- CDIC Act New
- By-laws with requirements for Member Institutions New
- Exemption from Deposit Insurance By-laws
- Other By-laws
- Governor in Council Regulations
- Other Documents
1. CDIC Act
| Legislation | Overall Purpose | Guidance Documents |
|---|---|---|
| Canada Deposit Insurance Corporation Act | The CDIC Act establishes the Canada Deposit Insurance Corporation and sets out its objects and powers, including the power to make By-laws. |
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2. By-laws with requirements for Member Institutions
| By-law | Overall Purpose | Guidance Documents | Consultations |
|---|---|---|---|
| Co-Owned and Trust Deposit Disclosure By-law (COTDB) | This By-law sets out the time, form and manner in which co-ownership, a trusteeship or the interest of a beneficiary in a deposit must be disclosed on the records of a member institution in order to ensure the benefit of additional separate coverage for co-owned and for trust accounts. | ||
| Deposit Insurance Information By-law (DIIB) | This By-law sets out the representations that can be made about deposit insurance and CDIC membership; the requirements with respect to the posting of the CDIC membership sign and brochure at branches/websites; and the requirements with respect to negative stamping. |
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| Differential Premiums By-law | This By-law classifies member institutions into categories on the basis of risk for premium assessment purposes. It also includes the premium penalty for non-compliance with the Data and System Requirements By-law and the Resolution Planning By-law. | ||
| Deposit Insurance Policy By-law | The By-law stipulates terms and conditions of a member’s policy of deposit insurance. | ||
| Data and System Requirements By-law (DSRB) | This By-law sets out the data and system requirements members must have in place to facilitate a fast insurance determination. |
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| Eligible Financial Contracts By-law | This By-law sets out how a member ensures that the stay provisions in the CDIC Act apply to any eligible financial contract (EFC) to which the member is a party. | ||
| Resolution Planning By-law | This By-law establishes a statutory framework pursuant to which DSIBs submit and maintain resolution plans that are critical to support resolvability and financial sector stability. | ||
| Prescribed Practices Premium Surcharge By-law | This By-law sets out the types of practices in which a member is engaging that may warrant assessing a premium surcharge. |
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3. Exemption from Deposit Insurance By-laws
Also known as the Opting Out By-laws. Under the CDIC Act, wholesale banks can opt out of CDIC membership. There are 5 by-laws related to this matter.
| By-law | Overall Purpose | Guidance Documents |
|---|---|---|
| Exemption from Deposit Insurance By-law (Exemption Fee) | The CDIC Act establishes the Canada Deposit Insurance Corporation and sets out its objects and powers, including the power to make By-laws. | |
| Exemption from Deposit Insurance By-law (Foreign Currency Deposits) | This By-law describes the rate of exchange that shall be applied on any day in determining the amount in Canadian dollars of a deposit in a currency of a country other than Canada. | |
| Exemption from Deposit Insurance By-law (Interest on Deposits) | This By-law describes the manner in which interest payable on deposits would be calculated. | |
| Exemption from Deposit Insurance By-law (Notice to Depositors) | This By-law requires opting-out institutions to provide its depositors with notice in writing that their deposits will no longer be insured in whole or in part by the Corporation. | |
| Exemption from Deposit Insurance By-law (Prescribed Deposits) | This By-law describes certain prescribed deposits that are excluded from deposit insurance coverage. |
4. Other By-laws
| By-law | Overall Purpose |
|---|---|
| Discretionary Interest By-law | This By-law prescribes the rate of interest to be paid in a payout scenario where CDIC chooses to pay interest from the date of winding-up to the date of payout. |
| Interest Payable on Certain Deposits By-law | This By-law prescribes the rules with respect to the payment of interest on index-linked deposits in a payout scenario. |
| Application for Deposit Insurance By-law | This By-law sets out the application process for provincial members. |
| Deposit Insurance Application Fee By-law | This By-law sets the application fee ($20,000) for provincial membership. |
5. Governor in Council Regulations
6. Other Documents
For any questions regarding CDIC’s By-laws, please contact members@cdic.ca.
For older consultations and guidance documents, please see the Archives section.