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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