Translation of "Taux plafond garanti à cours croisé " (French → English) :

8 (1) The Minister is not liable under this Act to make any payment to a lender in respect of loss sustained by it as a result of a guaranteed loan

We are expanding eligibility for Canada student loans and grants by allowing students to earn more money without impacting their loans, allowing part-time students to have higher family income without affecting their eligibility for support, and reducing the in-study interest rate for part-time students to 0%.

The next phase of Canada's economic action plan includes several smart and targeted steps to help students and youth in their education and support as they need it, such as: the student loan forgiveness for doctors and nurses working in rural and remote areas; extending tax relief for skills certification exams, to make all occupational, trade and professional exam fees eligible for tax relief through the tuition tax credit; doubling the in-study income exemption from $50 per week to $100 per week, benefiting over 100,000 students by allowing them to work more without negatively affecting their income; reducing the in-study interest r ...[+++]ate for part-time Canadian student loan recipients; increasing the family income threshold for part-time Canada loans and Canada student grant recipients, bringing the eligibility thresholds in line with the thresholds for full-time students; and providing $20 million to help the Canadian Youth Business Foundation to support young entrepreneurs.

The specific ceiling should be determined on the basis of the fact that taking account of a cap rate (net default rate) of 13 %, representing a worst case scenario for guarantee schemes in the Community, a guarantee amounting to EUR 225 000 can be considered as having a gross grant equivalent identical to the de minimis ceiling established in this Regulation.

This specific ceiling should therefore not apply to ad hoc individual aid granted outside the scope of a guarantee scheme, to aid granted to undertakings in difficulty, or to guarantees on underlying transactions not constituting a loan, such as guarantees on equity transactions. The specific ceiling should be determined on the basis of the fact that taking account of a cap rate (net default rate) of 13 %, representing a worst case scenario for guarantee schemes in the Community, a guarantee amounting to EUR 1 500 000 can be considered as having a gross grant equivalent identical to the general de minimis ceiling.

At the 10 July ECOFIN, the Presidency put forward the following compromise: - an overall threshold of 25,000 Ecus - a specific threshold of 7,500 Ecus for reimbursement. However, this compromise failed to gain the support of a qualified majority.