Assessment of Financial Institutions Regulations, 2017 (SOR/2016-297)

Marginal note:Amount

4 For the purpose of determining, under sections 5 to 9, the base assessment amount for a financial institution, the capital of the financial institution in respect of a fiscal year is

• (a) in the case of a bank, a trust and loan company or a retail association, the total risk-weighted assets that it reported during the preceding fiscal year in the financial return prepared in respect of the fourth quarter of its financial year in accordance with section 628 of the Bank Act, section 495 of the Trust and Loan Companies Act or section 431 of the Cooperative Credit Associations Act, respectively;

• (b) in the case of an authorized foreign bank, the minimum capital equivalency deposit that it reported during the preceding fiscal year in its annual return prepared in accordance with section 601 of the Bank Act;

• (c) in the case of a cooperative credit association, an amount equal to 1/20 of the total borrowings that it reported during the preceding fiscal year in the financial return prepared in respect of the fourth quarter of its financial year in accordance with section 431 of the Cooperative Credit Associations Act;

• (d) in the case of a company, society or provincial company to which the Insurance Companies Act applies, the minimum required capital that it reported during the preceding fiscal year in its annual return prepared in accordance with subsection 665(1) of that Act; and

• (e) in the case of a foreign company to which the Insurance Companies Act applies, the minimum required margin of assets in Canada that it reported during the preceding fiscal year in its annual return prepared in accordance with subsection 665(2) of that Act.