Discretionary Interest By-Law (SOR/96-544)

2 Where, following the making of a winding-up order in respect of a member institution, the Corporation decides to make an interest payment pursuant to subsection 14(2.4) of the Act in respect of a deposit insured by deposit insurance, the Corporation shall employ the simple annual rate of interest that applies to Government of Canada treasury bills with a term of approximately three months, as established at the last Bank of Canada auction preceding the date of the winding-up order.