Overview – Proposed DPS methodology:

The consultation paper sets out FSRA’s proposed DPS methodology to determine annual deposit insurance premiums to be assessed to Ontario Credit Unions and Caisses Populaires (collectively, credit unions).

The rationale for the proposed DPS methodology is to link the riskiness of an individual credit union with the level of deposit insurance premiums paid by that credit union, where corporate governance is assessed and measured through the newly introduced Risk Based Supervisory Framework (RBSF) and capital metrics are consistent with the new Capital Adequacy Requirements for Credit Unions and Caisses Populaires Rule.

The proposal reflects that the Credit Unions and Caisses Populaires Act, 2020 (CUCPA 2020) came into force and FSRA’s RBSF, Capital Adequacy, Liquidity Adequacy and Sound Business and Financial Business Practices Rules were implemented. Premiums would be calculated using the formula set out in section 110 of Ontario Regulation 105/22 under the CUCPA 2020.

The essential elements of the proposed methodology:

  • Support RBSF
  • Link a credit union’s riskiness to the deposit insurance premiums assessed to it
  • Provide greater transparency and equity
  • Include a transition period from the current methodology

Consultation with stakeholders:

FSRA received five submissions during the consultation period (November 23rd, 2022 to January 23rd, 2023) providing feedback on the proposed DPS methodology. Stakeholder submissions and FSRA’s comments are available on FSRA’s website.

FSRA has carefully considered and would like to thank all stakeholders who commented on the proposed DPS methodology.

Outcome of consultation:

Based on the feedback received during the consultation period, FSRA considers it unnecessary to make amendments to the proposed DPS methodology:


The following stakeholders shared their perspectives with FSRA through the formal consultation:

Credit Union/Association Representative
1. Canadian Credit Union Association (“CCUA”) Andrei Belik
2. Desjardins Group (“Desjardins”) Guiseppina Marra
3. Libro Credit Union Limited (“Libro”) Janet Johnson
4. Meridian Credit Union Limited (“Meridian”) Sunny Sodhi
5. Talka Credit Union Limited (“Talka”) Ron Smith

Summary of feedback/FSRA comments: