The award consists of up to $90,000 per year and is distributed as follows:

  • a research grant of $50,000 paid to the recipient through the university. This amount is provided to the university by the Bank of Canada as a lump sum.
  • an annual research expense allowance of up to $40,000, for expenses submitted to and approved by the recipient’s university, including those for:
    • the acquisition, maintenance and operation of research equipment
    • the acquisition of data
    • travel to scholarly conferences to present research
    • workshops held relating to research
    • computing, publication, material and supplies
    • research assistants

Fellowship Award funds are administered by the university. The Bank will pay the university an annual amount of $5,000 to defray its administrative costs.