Forward Regulatory Plan: 2016-2018

Regulatory Initiative: Possible making of the Canada Deposit Insurance Corporation Compensation By-law – Forward Regulatory Plan 2016-2018

Title or working title of the regulatory initiative:
Possible making of the Canada Deposit Insurance Corporation Compensation By-law

Description of the objective:
On June 13, 2016, the Government of Canada Bill C-15 received Royal Assent, amending the Canada Deposit Insurance Corporation Act to enable it to convert certain shares and liabilities of a D-SIB into common shares. The Canada Deposit Insurance Corporation Compensation By-law would provide for the manner in which an amount of compensation will be determined to be paid to creditors who are in a worse financial position than they would have been had the member institution been liquidated under the Winding Up and Restructuring Act.

The Canada Deposit Insurance Corporation Compensation By-law would be made pursuant to subsection 39.28(2) of the Canada Deposit Insurance Corporation Act.

Indication of business impacts:
There are no expected business impacts on financial entities.

Public consultation opportunities:
Interested stakeholders will have an opportunity to review and comment when the Canada Deposit Insurance Corporation Compensation By-law Canada is pre-published in the Canada Gazette, Part I.

Departmental contact:
Emiel J. van der Velden
Director, Insurance, Insurance and Risk Assessment
Canada Deposit Insurance Corporation
50 O’Connor St, 17th Floor
Ottawa, Ontario K1P 6L2
613.943.2773
evandervelden@cdic.ca

Proposed Regulatory Initiatives