CSA Que Deposit Premium Rate

On Aug. 10, CSA Que issued bulletin on proposed deposit premiums.

  • CSA Que issued bulletin to advise of draft regulation to amend Deposit protection act.
  • Proposed Amendments
  • Would amend application of Deposit institutions and deposit protection act (CQLR, chapter I-13.2.2) to increase the premium payable by authorized deposit institutions.
  • The premium rate would increase from 5 to 7.5 basis points of the amount of the deposits held by an institution and guaranteed by Autorité des Marchés Financiers.
  • Proposed Effectiveness
  • Subject to ministerial approval, the regulation would come into force on Apr. 30, 2024.
  • Consultation
  • Interested persons must submit their comments by Oct. 9, 2023.
  • Feb. 2024 CSA Que Regulation Approval
  • On Feb. 29, 2024, CSA Que published approval of regulation, effective Apr. 30, 2024.

Regulators CSA; CSA Que
Entity Types Bank
Reference Bul Vol. 21 No. 8 p. 89, 2/29/2024; Bul Vol. 20, No. 31, 8/10/2023
Functions Compliance; Financial; Legal; Operations; Treasury
Countries Canada
Products Banking; Deposits
Regions Am
Rule Type Final
Rule Date 8/10/2023
Effective Date 4/30/2024
Rule Id 181929
Linked to N/A
Reg. Last Update 2/29/2024
Report Section International

Last substantive update on 03/05/2024