Federal regulationCanada Gazette, Part IComment Period Closed
By-law Amending the Canada Deposit Insurance Corporation Eligible Financial Contracts By-law
Sponsoring body: Canada Deposit Insurance CorporationIntroduced November 1, 2025Last checked August 25, 2026
Read the official text on gazette.gc.caOfficial version — Canada Gazette, Part I
What this regulation does
This by-law amendment expands the list of counterparties that are exempt from contractual stay provisions in eligible financial contracts, adding foreign government departments and agencies, and multilateral development banks (like the World Bank) to the exemption list, while also extending the compliance deadline to October 1, 2028.
Plain-language summary by Legisail.
Business impact
Compliance
Canada's federally regulated banks and deposit-taking institutions (CDIC member institutions) are the ones directly affected. Right now, these institutions face extra administrative work when dealing with foreign government agencies and multilateral development banks because they have to include special contractual clauses in their financial contracts with these counterparties — clauses that peer institutions in other countries don't have to include. This amendment removes that extra paperwork burden by exempting those counterparties from the requirement, bringing Canadian rules in line with what other countries already do. The compliance deadline has also been pushed back to October 2028, giving institutions plenty of time to update their contract processes and templates.
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Where this regulation is
Proposed
Comment period closed
Final publicationPending
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