A-13.3, r. 1 - Regulation respecting financial assistance for education expenses

Full text
71. The rate of interest applicable to the payment of interest by the Minister on a loan granted under the Act is fixed monthly, on the month preceding the month for which the rate is applicable, as follows: the rate is equal to the banker’s acceptance rate in force on the first working day of the month the rate of interest is fixed, plus 150 basis points.
The expression banker’s acceptance rate means the banker’s acceptance rate in Canadian dollars for 1 month, published by the Investment Industry Regulatory Organization of Canada.
O.C. 344-2004, s. 71; 288-2020O.C. 288-2020, s. 18.
71. The rate of interest applicable to the payment of interest by the Minister on a loan granted under the Act is fixed monthly, on the first day of the month preceding the month for which the rate is applicable, as follows: the rate is equal to the banker’s acceptance rate in force on the day the rate of interest is fixed, plus 150 basis points.
The expression “banker’s acceptance rate” means the current banker’s acceptance rate in Canadian dollars for 1 month, as it appears in the Bank of Canada’s Weekly Financial Statistics.
O.C. 344-2004, s. 71.