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Finance committee That's okay. I can take that one. Under CEBA 3.0, that's not contemplated. The policy owners of the CEBA program are both the Department of Finance and Global Affairs Canada, and they've taken any further discussion on program evolution away with them.
June 9th, 2020Committee meeting
Todd Winterhalt
Finance committee That's correct. They're not part of the 3.0 version.
June 9th, 2020Committee meeting
Todd Winterhalt
Finance committee I do not.
June 9th, 2020Committee meeting
Todd Winterhalt
Finance committee I'm happy to do that. Actually, that is a program where we do have a fair amount of data, given that it's a little bit longer in the tooth, so to speak. In terms of average size, it is pretty close to the full $40,000 that is eligible. That's partially a function of the fact th
June 9th, 2020Committee meeting
Todd Winterhalt
Finance committee It is a flat forgivable amount, so for that up to $10,000, that's forgivable, regardless of when the payment occurs, as long as it's before the end of the period, as you indicated.
June 9th, 2020Committee meeting
Todd Winterhalt
Finance committee That's correct.
June 9th, 2020Committee meeting
Todd Winterhalt
Finance committee We're currently at a $55-billion notional cap for the program. As of noon today, we have disbursed $26.2 billion. There's roughly $30 billion in headroom from the notional cap of the program, but certainly we would be open to considering negotiating an increase, should that prove
June 9th, 2020Committee meeting
Todd Winterhalt
Finance committee Thanks, Mairead. Thanks, Mr. Cumming. We are now entering version three of the CEBA program, as you point out. The first version was launched in March. Subsequent amendments saw the 2.0, which expanded the eligibility in April. The third version, which I believe is the one you'
June 9th, 2020Committee meeting
Todd Winterhalt
Finance committee Thank you for the follow-up. I think everyone is working very stringently and as quickly as possible to get us through to that solution. Again, when you're working with north of 230 financial institutions, many of which have different platforms and different programs, the desi
June 9th, 2020Committee meeting
Todd Winterhalt