Canada Deposit Insurance Corporation Differential Premiums By-law

The Canada Deposit Insurance Corporation Differential Premiums By-law sets out the rules and calculations for determining the annual premium payable by member institutions. The by-law defines key terms, including "Act," "CDIC standards," "Data Requirements By-law," "domestic systemically important bank," and others. It establishes the application of sections 3 to 30 in respect of the calculation of the annual premium payable by a member institution for a full premium year.

The annual premium is calculated using a formula that takes into account factors such as deposits, percentages set out in Schedule 1, and the classification of the member institution in one of four premium categories. The classification of member institutions is determined based on their compliance with certain requirements, such as the Data Requirements By-law, and is subject to review and reclassification.

The by-law also provides for special cases, including the calculation of premiums for new member institutions, institutions that are partially or materially non-compliant with resolution plans, and institutions that have been reclassified under sections 5 or 6. It outlines the requirements for reporting forms and instructions and specifies the authority responsible for regulating federal and provincial member institutions.

The by-law came into force on March 10, 1999, and was approved by the Minister of Finance on March 4, 1999. It has been amended several times since its initial publication. The current version is the result of a series of changes made through various Orders in Council, including SOR/2015-75, SOR/2019-43, and SOR/2020-21.