DIRF premium calculation – Creating a system that is fair and equitable

The Financial Services Regulatory Authority of Ontario (FSRA) is taking steps to ensure the Deposit Insurance Reserve Fund is sustainable and available to protect credit union depositors well into the future.

Today, FSRA is releasing its Differential Premium Score Determination (DPSD) document which sets out how annual deposit insurance premiums will be calculated.

The DPSD will link the “riskiness” of an individual credit union with the level of deposit insurance premiums it must pay, making the system more equitable and fair.

The transition period for implementing these changes will continue until approximately December 2024 as FSRA assesses all credit unions at least once under the Risk Based Supervisory Framework (RBSF). During the transition period, credit unions will be assessed the lesser of the premium calculated under the current or new methodology.

The DPSD is now in effect and replaces the DICO Differential Premium Score Determination (dated February 10, 2018).

Learn More

• Differential Premium Score Determination (“DPSD”) Document
• May 2023 e-blast - Improving the Way Deposit Insurance Premiums are Calculated

FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone.

Learn more at www.fsrao.ca.