2025 Deposit Insurance Information By-law Consultation

The Deposit Insurance Information By-law (DIIB) sets out requirements for CDIC member institutions (MIs) to ensure depositors receive clear, accurate, and timely information about deposit insurance. It also prohibits false, misleading, or deceptive representations about CDIC membership or deposit protection.

Since its last comprehensive review in 2016-17, CDIC has carried out compliance activities and research to better understand depositor expectations. The financial landscape has evolved, with new products, digital channels, and third-party partnerships changing how Canadians interact with deposit-taking institutions.

Strategic Review and Consultation

To ensure the By-law remains effective and supports CDIC’s mandate, we are proposing updates that reflect lessons learned through supervision, stakeholder feedback, and recent studies on depositor awareness.

The proposed changes are designed to help ensure depositors continue to receive timely, accurate, and accessible information about deposit insurance, no matter how they interact with their financial institutions.

Key Changes

The key proposed changes are:

• Enhancing member-to-depositor disclosure by improving how and when information is shared, both in-person and through digital channels
• Modernizing and simplifying requirements to make compliance clearer and better suited to today’s banking environment
• Providing guidance for fintechs to support accurate representations of CDIC protection in their communications and marketing

Comments are requested from depositors, member institutions, their associations, regulators, fintechs and other interested parties. Please direct your written comments by September 26, 2025 to consultation@cdic.ca. Your input will help ensure the By-law continues to meet its objectives and supports confidence in Canada’s financial system.