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Financial Community and Trustees

Important information and dates for members

Deadlines

  • By February 28, 2022 or April 30, 2022
    Within 120 days of the member’s fiscal year-end, members must submit audited and Board approved end-of-year financial statements, with comparisons to the preceding year’s statements, to CDIC, according to section 15(1) of the CDIC Deposit Insurance Policy By-law. At that time, members must also supply CDIC with a current list of all their subsidiaries and affiliates and a current list of all their directors and officers, along with titles, addresses, email addresses and phone numbers. Submissions are to be provided by email to members@cdic.ca.

  • By April 30, 2022
    Members must provide the completed Differential Premiums Form for the 2022 premium year.

  • Month of April 2022
    With the aim of raising awareness of the new trust deposit framework, in the month of April, members are expected to provide trustee depositors with a notice that requests the provision of prescribed beneficiary information and informs the trustee of upcoming changes to the trust deposit framework. Member Institutions must also indicate how trustee depositors may send them updated information. A template 2022 Notice developed by CDIC in collaboration with the Canada Bankers Association can be found here: template. Please visit CDIC’s Legislation and By-laws page for additional resources and information.
  • By July 15, 2022
    Member institutions must provide their completed Return of Insured Deposits (RID) submission and related premium payment for the 2022 premium year by July 15th, 2022. (Note: members may either pay the full premium amount for the premium year by July 15th 2022, or pay in two equal installments, the first due by July 15th 2022 and the second due by December 15th 2022.)

  • By July 15, 2022
    Pursuant to subsection 10(c) of the CDIC Deposit Insurance Information By-law, member institutions must provide CDIC with an up-to-date list of all the trade names they use for eligible deposit taking activities, along with their Return of Insured Deposits submission. For more information about this requirement, please consult the Deposit Insurance Information By-law: Information Bulletin.

  • By July 15, 2022
    Pursuant to section 11(3) of the CDIC Deposit Insurance Information By-law, member institutions must provide CDIC with an up-to-date list of eligible deposit products that are sold by the member, along with their Return of Insured Deposits submission.

  • By December 15, 2022
    Members must submit their second premium installment by December 15th, 2022, if applicable.

Important Reminders

  • Changes to Trade Names
    Pursuant to Subsection 10(d) of the CDIC Deposit Insurance Information By-law, member institutions must provide CDIC with notice of any new trade name to be used in the course of its deposit-taking activities relating to deposits eligible to be insured by the Corporation, within 15 days of usage. Notice is to be provided by email to members@cdic.ca.
  • Changes to Directors and Officers
    Pursuant to section 18 of the CDIC Deposit Insurance Policy By-law, members must notify CDIC without delay of any material changes to the information provided in accordance with sections 15 of the By-law, including any changes to the members’ directors and officers. Notice of any such change must be provided by email to members@cdic.ca.
  • Notification in respect of Important Transactions
    ​Pursuant to section 17 of the CDIC Deposit Insurance Policy By-law, member institutions must notify CDIC of important transactions, including any proposed change in control, proposed amalgamation or merger, and/or proposed transfers of all or substantially all liabilities. Notice is to be provided by email to members@cdic.ca.

  • Notice of Material Change (DSIBs)
    Pursuant to section 6 of the Canada Deposit Insurance Corporation Resolution Planning By-law, a Domestic Systemically Important Bank (DSIB) must notify CDIC as soon as feasible after the occurrence of a change in a bank group’s legal structure, business, operations, critical functions, critical shared services or material legal entities, or in the laws and regulations applicable to the bank group, that would require one or more amendments to the bank’s resolution plan. Examples of a material change may include an acquisition of an entity that meets the thresholds for a material legal entity, or reorganization of shared services that impacts cross-border execution of the resolution strategy. Notice is to be provided by email to members@cdic.ca.

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