Fellowship Award nominees are required to:
- be Canadian citizens, permanent residents of Canada, or be otherwise legally permitted to work in Canada
- conduct and support research in Canada (nominations where the majority of the research is in Canada could also be considered)
- have obtained a PhD
- be employed by a Canadian university in a tenure or tenure-track position during the term of the Fellowship Award
The Fellowship Award provides financial support to academics who are recognized for their expertise and research in areas important to the Bank's core functions.
The award consists of:
- a research grant of $50,000 per year per recipient
- a research expense allowance of $40,000 per year per recipient, for related research expenses and for research assistants
- a sum of $5,000 for the university for administration of the award funds
The award is for a term of up to five years and is subject to an annual review and confirmation process.