Canada Deposit Insurance Corporation Data and System Requirements By-law

Marginal note:Capabilities

• 2 (1) For the purpose of facilitating the Corporation’s exercise of its functions under section 14 of the Act or in the event that an order is made under any of paragraphs 39.13(1)(a) to (c) of the Act, every member institution must be capable of

  • (a) producing the following data, as of the determination time, in relation to its deposit liabilities — other than those posted in the records of a foreign branch of the member institution — and providing that data or making it available to the Corporation in a usable format no later than the time referred to in subsection (2):

    • (i) data that enables the Corporation to identify and contact each depositor and ascertain their preferred official language and their province of residence,

    • (ii) data that enables the Corporation to identify and group those deposit liabilities by

      • (A) unique depositor,

      • (B) eligibility to be insured by the Corporation,

      • (C) insurance category, and

      • (D) account type, and

    • (iii) the interest accrued and payable in relation to each deposit liability as of the determination date; and

  • (b) temporarily preventing withdrawals of deposit liabilities or any portion of them according to account type within six hours after receiving instructions from the Corporation.

• Marginal note:Time limit — provision of data

  (2) The member institution must be capable of providing or making available to the Corporation the data referred to in paragraph (1)(a) no later than

  • (a) in the case of the data referred to in subparagraphs (1)(a)(i) and (ii),

    • (i) if the determination time occurs on or after the determination date, the earlier of

      • (A) six hours after the determination time, and

      • (B) 4:00 p.m. on the day after the determination date, and

    • (ii) if the determination time occurs before the determination date, 4:00 p.m. on the day after the determination date; and

  • (b) in the case of the data referred to in subparagraph (1)(a)(iii),

    • (i) if the determination time occurs on or after the determination date, the earlier of

      • (A) 30 hours after the determination time, and

      • (B) 4:00 p.m. on the second day after the determination date, and

    • (ii) if the determination time occurs before the determination date, 4:00 p.m. on the second day after the determination date.

• Marginal note:Policies and procedures

  (3) The member institution must develop and implement policies and procedures to ensure that it has the capabilities referred to in subsections (1) and (2).