Fisheries committee  I just have one addition to make. Certainly, in looking at past scenarios of who we've considered for that 100% financing or a new fisher to the market, an option would be off-balance-sheet security, if that's available. In the scenarios that I've seen that look similar to this one, we do put a lot of weight on whether this person can bring to the bank a character reference, someone we would know who will vouch for him, who will indicate that he is capable of doing what he feels he can do with the licence.

Fisheries committee  I'll take a shot at that. Certainly, looking back, during 2008 and late 2007 there were a number of stakeholder sessions held throughout the Atlantic Canadian provinces. Bank of Montreal did have representation at those meetings.

Fisheries committee  We will see some difference among the different areas of the industry in terms of what their balance sheets look like, where their asset classes are and so forth. So we do treat those a little differently. The other thing I find is that the bank's requirements for the processors and the harvesters are different.

Fisheries committee  I'll take an opportunity, Scott, to respond to that. With respect to BMO's perspective on the financing of the licensing, one of the other areas that we've paid some attention to is the wide range of values of the licensing over a number of years. Using LFA 34 as an example in the Yarmouth-Digby area, over the last three to five years we've seen values anywhere from $300,000 or $400,000 through to $750,000 in terms of the market value.

Fisheries committee  No. It's certainly based on the individual nature of the borrower, the balance sheet that the borrower brings to the bank, and of course the zone or lending area or LFA area that we'd be dealing with.

Fisheries committee  Similarly, at BMO we've met twice this calendar year with representatives of both the federal and provincial departments.