CDIC Deposit Insurance By-law Amendments

Summary#

This is a proposed amendment to the Canada Deposit Insurance Corporation Deposit Insurance Information By-law from the Canada Deposit Insurance Corporation (CDIC). It would tighten and modernize how CDIC membership and deposit insurance are shown to customers — for example by requiring staff training, new video-ad disclosures, simpler signage and clearer notices when a bank uses a trade name.

What it does#

• Adds a new requirement for member institutions to run a training program for staff who might talk to customers about deposit insurance. The training must be completed annually and cover basic CDIC topics (membership status, what counts as an insured deposit, how to calculate coverage, and when CDIC would pay).
• Requires a clear CDIC membership statement or symbol in any paid video advertising that talks about deposit accounts (this includes digital, social media and TV/streaming ads).
• Replaces the old in-branch brochure with a printable CDIC information sheet, and allows that information to be shown digitally in branches.
• Simplifies signage into two standard forms: a physical CDIC membership sign for branches and a CDIC symbol for digital platforms. The digital symbol must link to the CDIC information sheet online. Physical signs may be shown on rolling digital displays.
• Requires websites that sell eligible deposit products under a different trade name to show a clear statement explaining the trade name’s relationship to the CDIC member and how deposit coverage is aggregated.
• Updates terminology across the by-law to reflect digital channels.

Note: the proposal says CDIC would provide a training module members can use, or members can make their own to meet the content requirements.

Who's affected#

• CDIC member institutions — banks, trust companies and other deposit-taking firms that are CDIC members — will need to change signage, advertising and staff training.
• Frontline staff and anyone who discusses deposit coverage with customers (branch staff, call-centre agents, digital advisors) will need to complete the training.
• Marketing teams and advertising vendors involved in video ads must include the membership statement or symbol.
• Depositors and the general public could see clearer information about deposit insurance and trade-name arrangements.
• The regulatory note says small businesses would not be affected.

Why it matters#

• Clearer, consistent messaging helps people know whether their money is insured and how much coverage they have. That can reduce confusion if someone uses a bank’s trade name or a digital channel.
• Better-trained staff and clearer ads may make it easier for customers to get accurate answers about deposit protection, which can build trust and help financial stability in times of stress.
• The training and some signage/advertising changes will take time and some effort for member institutions to implement, but the regulatory analysis says expected costs are low.
• This is a proposed change. There is a public comment period of 30 days from the publication date July 4, 2026 (so comments would be due by August 3, 2026). The proposal describes coming-into-force timing, but the documents show different dates in places: the regulatory statement mentions December 1, 2026, while the draft by-law text points to a training entry date of July 14, 2028 and other staged timings. The exact final dates will be confirmed when the by-law is finalized.