Indigenous and Northern Affairs committee  Thank you. A lot of my answers will be similar. Online banking is a significant thing that's happening now. I understand that there are Internet connectivity issues in some communities, so, for sure, we're aware of that. The move of everybody in the community to online banking is really the safest, most efficient approach, but we also have telephone banking, and we have a group dedicated to handling requests over the telephone.

Indigenous and Northern Affairs committee  Our housing loan program does have an insurance component to it. It's negotiated with the indigenous government that we're setting the program up with. It's a requirement if the indigenous government makes it a requirement. It's not mandatory on BMO's side of the business, but it's set up as an individual term for each different community.

Indigenous and Northern Affairs committee  I will bring it back to those remote communities. The cost to build in those remote regions is exceptionally high compared to communities that are more urban or located close to urban centres. You are trying to figure out a way to bring up not only the materials to build a home, and how to get them onto a truck that can drive over frozen water or make it through in the right season because of flooding issues, but also all the other materials that you have to get up there for building that home, and for just existing up there, such as diesel for an energy source.

Indigenous and Northern Affairs committee  Facilitating access to funding would make it more possible for these members in more remote communities. If it costs twice as much to build a home up north and you're earning the same income, it's twice as expensive for you, so we have to either reduce the costs or increase the funding source to cover that cost differential.

Indigenous and Northern Affairs committee  My idea about funding the cost of rental for more remote communities was admittedly not my own idea. This is something that's currently happening in Quebec. I think it's a really good idea. They recognized that issue and came up with a solution, which was to provide for that funding gap.

Indigenous and Northern Affairs committee  When I look at what I see as an opportunity for changes that the government could make, aside from the barriers that exist with taking security on reserve and somehow figuring out a way to change that entirely, I have some other thoughts and general ideas that potentially could be used.

Indigenous and Northern Affairs committee  It's my pleasure. Thanks for the question. Our program essentially straddles both the retail bank and the commercial bank. On the commercial side, we set up a contingent liability. That's based on the indigenous community or the first nation government. We have that overarching contingent liability approved at the first nation level in the commercial bank.

Indigenous and Northern Affairs committee  It's a good question. We started this program a long time ago in 1995. Now, over 100 communities are participating in the program. I would say that the growth rate of this program really just depends on how much communities want to sign up for this program. I do think there is a lot of opportunity here for continued growth.

Indigenous and Northern Affairs committee  Thank you. Hello. Aaniin. My name is Clio Straram. I am Cree, and my community is Fond Du Lac first nation. I am the head of indigenous banking at the Bank of Montreal. BMO has a long history of partnering with indigenous communities. The indigenous banking unit, which I head up, was created in 1992—that's 30 years ago today—to address a gap in available capital for first nations governments as a result of the Indian Act.