supports a stronger democratic accountability and considers that the Council should discuss several financial issues - such as the allocation method of Funds at national and regional levels, capping rate, safety net, etc.

the authorized transaction may be undertaken, in whole or in part, in the currency of a country other than Canada, and for that purpose the specific or maximum number of dollars shall be construed as an equivalent amount in the currency of the other country, calculated at the rate of exchange between the Canadian dollar and the currency concerned as quoted by the Bank of Canada at noon on the day immediately preceding the day on which the money is borrowed, the proceeds from the issue of securities are received or the guarantee is given, as the case may be.

(2) In this section, “derivative” means an option, swap, futures contract, forward contract or other financial or commodity contract or instrument whose market price, value, delivery obligations, payment obligations or settlement obligations are derived from, referenced to or based on an underlying interest, including a price, rate, index, value, variable, event, probability or thing.

For example I will pay you the interest rate that is paid on a Canadian five-year bond and you will pay me a floating interest rate.

(iii) fixed and floating rate bonds, with a maturity not exceeding 10 years, provided that they are issued by any of the categories of authorised issuers;

The adjusted market value of Bond A and FRN B on that day is EUR 46184315, thus exceeding the required amount of EUR 45900000 (EUR 45 million plus the initial margin of 2 %).