CDIC articles and updates

Important information and dates for members

CDIC articles and updates

Consultations and other documents

  • The Data and System Specifications v3.0 (PDF 2MB) was released in final form on September 4, 2019 with the revised specifications due by April 30, 2021. Until such time, member institutions are expected to comply with Data and System Specification v2.0 (PDF, 1.2 MB)
  • The Co-owned and Trust Deposit Disclosure By-law was published in final form on September 4, 2019. The By-law strengthens the rules for deposits held in trust and for nominee brokered deposits and will take effect on April 30, 2021 to align with the coming into force of the legislative amendments on trust deposits.
  • The By-law Amending the Canada Deposit Insurance Corporation Joint and Trust Account Disclosure By-Law extends to 90 days after the determination date the timing for the beneficiary information of a trust deposit to be disclosed on the records of a member institution. The proposed changes would allow trustees to update or amend beneficiary information 90 days following failure so that CDIC has the information needed to support the payment of insured deposits held in trust. The Amending By-law came into force on August 20, 2019 and will be in effect until the new trust deposit rules take effect on April 30, 2021.
  • Proposed technical amendments to the Differential Premiums By-law will be pre-published in Part 1 of the Canada Gazette in October. The proposed amendments align the Differential Premiums By-law with the changes in the OSFI forms that are referenced in the By-law and seek to remove redundancies.

Deadlines for members

  • By December 13, 2019
    Submission of the 2019 resolution plans by the domestic systemically important banks (DSIBs) under the CDIC Resolution Planning By-law.
  • By December 15, 2019
    Regulatory filings: payment by CDIC members of 2nd premium installment for 2019 premium year
  • By February 28, 2020 or April 30, 2020
    Submissions of end of fiscal financial information within 120 days after fiscal year-end under Section 15 of the CDIC Deposit Insurance Policy By-law
  • By April 30, 2020
    Joint and Trust Account Disclosure notification to trustee depositors under the CDIC Deposit Insurance Joint and Trust Disclosure By-law
  • By April 30, 2020
    Regulatory Filings: CDIC will release the Differential premiums Form (for premium year 2020). Member institutions must provide the Differential Premium Form for 2020 premium year
  • By April 30, 2020
    Changes to the CDIC Act to modernize and enhance CDIC deposit protection will come into force on April 30, 2020. To ensure depositors are appropriately informed of expanded coverage to foreign currency deposits and term deposits greater than 5 years, member institutions are required to ensure that appropriate and accurate disclosures are made to any client entering into a new deposit agreement. Member institutions will have until May 31st, 2020 to remove any remaining inconsistencies on other applications/channels.

Important Reminders

  • Changes to Trade Names
    Pursuant to Subsection 10(d) of the CDIC Deposit Insurance Information By-law, member institutions must provide CDIC 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 via
  • 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, a proposed amalgamation or merger, and proposed transfers of all or substantially all liabilities. Notice is to be provided via
  • Notice of Material Change
    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 via

Back to top