Canada Deposit Insurance Corporation Differential Premiums By-law

3 For the purpose of paragraph 23(1)(a) of the Act, the annual premium for a member institution referred to in subsection 23(1) is equal to the greater of

• (a) $5,000, and

• (b) the result determined in accordance with the formula

  A × B × C

  where

  A

  is one third of one per cent, or any smaller proportion of one per cent that is fixed by the Governor in Council under subparagraph 23(1)(b)(ii) of the Act,

  B

  is an amount equal to the sum of the deposits referred to in paragraph 23(1)(b)(ii) of the Act, and

  C

  is the percentage set out in column 3 of Schedule 1 for premium category 1.