Notice of changes to minimum base assessments

Summary:

The Office of the Superintendent of Financial Institutions (OSFI) has announced adjustments to the minimum base assessments for federally regulated financial institutions effective April 1, 2024, to March 31, 2025. The changes are based on the revised Consumer Price Index (CPI) published by Statistics Canada. The new minimum assessments vary by institution type, with increases ranging from $50 to $1,050. The affected institution types include societies, foreign fraternal benefit societies, authorized foreign banks, trust and loan companies, cooperative credit associations, insurance companies, banks, and retail associations. For further information, questions can be directed to Melvin Green, Manager, Financial Reporting and Systems.