About us
Euro Commercial Paper Program
The CWB's Euro Commercial Paper Program (ECP) was launched in 1996. The CWB can issue in a variety of currencies and terms suitable to the investor.
The CWB's ECP program typically has notes of approximately $150 million to $600 billion U.S. circulating in the market .
Outstanding ECP as at Jan. 31, 2007: $215 million
| Term to maturity | 7 to 364 days |
| Terms of issuance | 1 to 12 months |
| Minimum size | $100,000U.S. with increments of $1,000 thereafter |
| Currencies | Any currency subject to compliance with all applicable legal and regulatory requirements |
| Delivery | Euroclear, Clearstream, Luxembourg or Canadian Depository for Securities |
| Yield basis | Discount or fixed or floating rate interest or coupon calculated by reference to an index or formula |
| Program size | $3 billion US or its equivalent in alternative currencies |
ECP is available through a select group of financial institutions that act as agents on behalf of the CWB. These financial institutions are based in London, providing geographic diversity. For currency restrictions, refer to the information memorandum.
Members of the ECP dealer group:
Citibank International plc
33 Canada Square
Canary Wharf
London, England
EI4 SLB
Telephone: 011-44-207-986-9070
David Hayes, Director, Short Term Fixed Income
Deutsche Bank London AG
Winchester House
1 Great Winchester Street
London, England
EC2N 2DB
Telephone: 011-44-207-545-1048
Phillip Howes, Head ECP Trading
Barclays Capital
5 The North Colonnade
Canary Wharf
London, England
E14 4BB
Telephone: 011-44-207-623-2323
Sheldon Mair, Director ECP Trading
Please contact one of the named dealers to receive a copy of the CWB's Information Memorandum.