Legislation and by-laws

1. CDIC Act

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.

Guidance Documents


2. By-laws with requirements for Member Institutions

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.

Guidance Documents

Upcoming amendments

Canada Gazette, Part II, Volume 157, Number 7 – By-law Amending the Canada Deposit Insurance Corporation Co-Owned and Trust Deposit Disclosure By-law – March 7, 2023 (SOR/2023-38 to 54)

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.

Guidance Documents

CDIC Display Requirements

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.

Guidance Documents

Upcoming amendments

Canada Gazette, Part II – Amendments to the Canada Deposit Insurance Corporation Differential Premiums By-law – March 14, 2022 (SOR/2022-54)

Canada Gazette, Part II, Volume 158, Number 7 – By-law Amending the Canada Deposit Insurance Corporation Differential Premiums By-law – March 8, 2024 (SOR/2024-45)

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.

Guidance Documents

Secure File Transfer Protocol User Guide

To request a copy of the SFTP User Guide please send an email to members@cdic.ca.

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.

Upcoming amendments

Canada Gazette, Part II – Canada Deposit Insurance Corporation Eligible Financial Contracts By-law – March 14, 2022 (SOR/2022-55)

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.

Guidance Documents

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.

Canada Gazette, Part II, Volume 157, Number 6 – By-law Amending the Canada Deposit Insurance Corporation Prescribed Practices Premium Surcharge By-law – March 3, 2023

Canada Gazette, Part I, Volume 156, Number 44: By-law Amending the Canada Deposit Insurance Corporation Prescribed Practices Premium Surcharge By-law – consultation until November 28, 2022


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.

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

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

Bank Recapitalization (Bail-in) Conversion Regulations (SOR/2018-57)

Compensation Regulations (SOR/2018-59)

Canada Deposit Insurance Corporation Notice Regulations (Compensation in Respect of the Restructuring of Federal Member Institutions)

Eligible Financial Contract Regulations (Canada Deposit Insurance Corporation Act)


6. Other Documents

Financial Administration Act

Interpretation Policy

Forward Regulatory Plan


Questions?

For any questions regarding CDIC’s By-laws, please contact members@cdic.ca.

For older consultations and guidance documents, please see the Archives section.

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