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Finance committee The program is governed by specific legal agreements that set out the criteria specifically for BCAP. Yes, if the application meets those criteria, which are simplified, then we do rely on the banks' underwriting.
June 9th, 2020Committee meeting
Mairead Lavery
Finance committee If it's with respect to our existing products, we set the agreement with the bank, but for BCAP there were a number of policy decisions. We worked with our colleagues at the Department of Finance and at Global Affairs to ensure that the criteria were well understood and were avai
June 9th, 2020Committee meeting
Mairead Lavery
Finance committee We have been public in giving some information by sector on what we see in terms of the sectors that have been more impacted through the crisis and also what this means for emerging from the crisis. Without a doubt, retailers have been one of the most impacted sectors. I think we
June 9th, 2020Committee meeting
Mairead Lavery
Finance committee Thank you for that, Mr. Cooper. Of course, we do hear from customers who would have liked to see the program roll out faster than it has. We've been working very closely with the associations to try to ensure that the support was specifically needed to help the main drivers of t
June 9th, 2020Committee meeting
Mairead Lavery
Finance committee Carl, would you comment?
June 9th, 2020Committee meeting
Mairead Lavery
Finance committee Carl, would you like to provide some details?
June 9th, 2020Committee meeting
Mairead Lavery
Finance committee Mr. Easter, I can take that one. We did participate in what's called the BCAP steering committee, which includes members of commercial banks, the heads of small business banks at most of the major financial institutions, together with the Credit Union Association, etc. We used t
June 9th, 2020Committee meeting
Mairead Lavery
Finance committee In fact, we encourage companies to talk with their financial institution. That's their primary partner. All of these companies have a financial partner. We encourage them to reach out to their associations, which may be able to help them more quickly triage different programs tha
June 9th, 2020Committee meeting
Mairead Lavery
Finance committee Mr. Burlock will take this question, Mr. Chair.
June 9th, 2020Committee meeting
Mairead Lavery
Finance committee Todd, would you like to respond?
June 9th, 2020Committee meeting
Mairead Lavery
Finance committee Committee Chair Easter, thank you for that welcome. Thank you for the opportunity to speak with you today. Export Development Canada is uniquely placed to understand the struggles of so many Canadian businesses today. We're privileged to be positioned so that we can make a real
June 9th, 2020Committee meeting
Mairead Lavery