Financial Community

Notice: The Government of Canada has announced that changes to the CDIC Act to modernize and enhance CDIC deposit protection will come into force on April 30, 2020 and April 30, 2021. PLEASE NOTE: Until then, current coverage rules apply.

Premiums

Each CDIC member institution must pay annual premiums on insured deposits as a condition of membership. These premiums constitute a reserve fund which CDIC would draw from in order to resolve the failure of any of its members.

Each year, every member institution is classified into one of four premium categories according to the Differential Premium 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.

Premium Year 2019 – Reference Documents

All documents for new and existing members to meet CDIC reporting requirements are below. Please contact us at member@cdic.ca if you require additional information.

Differential Premiums Form (DPF)

Return of Insured Deposits (RID)

Disclosing Rating Information

The CDIC Policy of Deposit Insurance prohibits members from disclosing premium rating information they receive from CDIC. This information includes:

  • the category in which the member institution is classified;
  • the premium rate assigned to the member;
  • the total score assigned to the member;
  • any score assigned to a member related to quantitative or qualitative factors or criteria;
  • the examiner’s rating; and
  • any other information that is given to the member with respect to qualitative factors or criteria by CDIC or by the member institution’s regulator or examiner that would, in itself or pieced together with other information, enable the score assigned to the member institution to be determined.

Regulatory Reporting System (RRS)

The Regulatory Reporting System (RRS) is a web application that lets federally regulated financial institutions (FRFIs) submit regulatory return information. RRS supports the Bank of Canada, the Office of the Superintendent of Financial Institutions and CDIC’s mandate by collecting reliable, accurate and timely data.

If your institution is already registered to use the Regulatory Reporting System (RRS) for OSFI filings, no further registration actions are necessary as you will use your existing RRS credentials. If your institution has not previously registered to use RRS please contact Customer Support or members@cdic.ca.

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