The Ministère des Finances du Québec has developed an index of 91-day Québec Treasury bills based on a hypothetical portfolio of Québec Treasury bills with a term of 91 days at the time of issue.
The initial portfolio was developed on January 2, 2001. At that time, it consisted of an equal investment in each of the last 13 issues of the year 2000. Once the initial portfolio has been established, no new investment are made. However, the amounts maturing each week were reinvested in the new issue of that week [for a more detailed explanation, please refer to the Composition section]. The portfolio's value is calculated on each business day.
The index, set at 100.0000 on January 2, 2001, varies thereafter in proportion to the change in the value of the portfolio [for a more detailed explanation, please refer to the Calculation section].