The Hong Kong Government in April 2003, introduced a Film Guarantee Fund as an incentive to local banks to become involved in the motion picture industry. The guarantee operates to secure a percentage of monies loaned by banks to film production companies. The Fund has received a mixed reception from industry participants, and less than enthusiastic reception from financial institutions who perceive investment in local films as high risk ventures with little collateral. Film guarantee legal documents commissioned by the Hong Kong Government in late April 2003 are based on Canadian documents, which have limited relevance to the local industry.