Key dates and reminders

Within 120 days of the member’s fiscal year-end, members must submit audited and Board approved end-of-year financial statements, with comparisons to the preceding year’s statements, to CDIC, according to section 15(1) of the CDIC Deposit Insurance Policy By-law. At that time, members must also supply CDIC with a current list of all their subsidiaries and affiliates and a current list of all their directors and officers, along with titles, addresses, email addresses and phone numbers. Submissions are to be provided by email to members@cdic.ca.

Under the CDIC Act and CDIC Co-Owned and Trust Deposit Disclosure By-law, member institutions are required each year, during the month of March, to provide notifications to trustees and Professional Trustees. Notifications must meet CDIC requirements and should set out details including: the information trustees and Professional Trustees must provide or update; the manner of provision; and the consequences of failing to provide that information. Additionally, member institutions are required to notify Nominee Brokers each April to provide CDIC with updated attestations and contact information via the Nominee Broker Portal. Template notifications developed by CDIC with the input of the Canadian Bankers Association can be found on CDIC’s Legislation and By-laws page.

Members must provide the completed Differential Premiums Form for the 2024 premium year.

Member institutions must provide their completed Return of Insured Deposits (RID) submission and related premium payment for the 2024 premium year by July 15^th, 2024. (Note: members may either pay the full premium amount for the premium year by July 15^th, 2024, or pay in two equal installments, the first due by July 15^th, 2024, and the second due by December 15^th, 2024).

Pursuant to subsection 10(c) of the CDIC Deposit Insurance Information By-law, member institutions must provide CDIC with an up-to-date list of all the trade names they use for eligible deposit taking activities, along with their Return of Insured Deposits submission. For more information about this requirement, please consult the Deposit Insurance Information By-law: Information Bulletin.

Pursuant to section 11(3) of the CDIC Deposit Insurance Information By-law, member institutions must provide CDIC with an up-to-date list of eligible deposit products that are sold by the member, along with their Return of Insured Deposits submission.

Pursuant to the CDIC Eligible Financial Contracts By-law, member institutions must incorporate the stay provisions of the CDIC Act into the contractual provisions of the prescribed class of Eligible Financial Contracts entered into, amended or renewed on or after October 1, 2024, where the counterparty is other than a CDIC member institution, a G-SIB, or an affiliate of such institution (subject to certain exceptions). Please consult the CDIC Eligible Financial Contracts By-law and the CDIC Act for more details about this requirement.

Members must submit their second premium installment by December 15^th, 2024, if applicable.