Canada Deposit Insurance Corporation Differential Premiums By-law has been repealed

Plain-language summary · AI-assisted

The Canada Deposit Insurance Corporation Differential Premiums By-law, which governed how CDIC calculated and assigned risk-based premium categories to member deposit-taking institutions, has been repealed in its entirety. The by-law previously set out the scoring framework—covering capital adequacy, asset quality, earnings volatility, and other quantitative and qualitative factors—used to place each member institution into one of five premium categories that determined their annual deposit insurance premium rate. With the repeal, all provisions relating to premium classification, scoring grids, reporting form requirements, and related schedules are no longer in force. Member institutions and their compliance teams should confirm what replacement framework, if any, now governs CDIC premium calculations and update their internal processes accordingly.

Who this affects
CDIC member institutions · deposit-taking banks and trust companies · federal and provincial credit unions accepting insured deposits · compliance and finance teams at insured deposit-takers