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User Fees Reporting

User Fees and Regulatory Charges (User Fees Act)

User Fee: Superintendent Non-deemed Approvals Except Deposit and Trust Agreements and Letters of Credit

S1-21 Approval to maintain a representative office of a foreign bank
S1-40 Reservation of a name
S2-02 Accreditation of a provincial reinsurer

Fee Type: Regulatory (R)

Fee-setting Authority: OSFI Act

Date Last Modified: April 28, 2006

Performance Standards1: 90% will be processed in less than 60 calendar days of receipt

Performance Results1: 100% were processed in less than 60 calendar days of receipt


2012-13
($ thousands)
Planning years
($ thousands)
Forecast Revenue Actual Revenue Full Cost Fiscal Year Forecast Revenue Estimated Full Cost
32 41 41 2013-14 24 24
2014-15 24 24
2015-16 24 24

User Fee: Ministerial Approvals

S1-01 Letters patent of incorporation
S1-02 Letters patent of continuance
S1-03 Order permitting a foreign bank to carry on banking business in Canada
S1-04 Order approving the insuring in Canada of risks by a foreign body corporate
S1-14 Exemption from material banking group status
S1-15 Approval for a foreign bank or entity associated with a foreign bank to have a financial establishment in Canada
S1-16 Approval for a foreign bank or entity associated with a foreign bank in respect of investments and activities in Canada

Fee Type: R

Fee-setting Authority: OSFI Act

Date Last Modified: April 28, 2006

Performance Standards1: 80% will be processed in less than 90 calendar days of receipt

Performance Results1: 100% were processed in less than 90 calendar days of receipt


2012-13
($ thousands)
Planning years
($ thousands)
Forecast Revenue Actual Revenue Full Cost Fiscal Year Forecast Revenue Estimated Full Cost
416 435 435 2013-14 416 416
2014-15 416 416
2015-16 416 416

User Fee: Precedents / Rulings / Interpretations

S2-01 Written, precedent-setting ruling relating to the quality of capital
S2-03 Written interpretation of Acts, regulations, guidelines or ruling

Fee Type: R

Fee-setting Authority: OSFI Act

Date Last Modified: August 13, 2003

Performance Standards1: 80% will be processed in less than 180 calendar days of receipt

Performance Results1: 100% were processed in less than 180 calendar days of receipt


2012-13
($ thousands)
Planning years
($ thousands)
Forecast Revenue Actual Revenue Full Cost Fiscal Year Forecast Revenue Estimated Full Cost
8 0 0 2013-14 8 8
2014-15 8 8
2015-16 8 8

User Fee: Non-precedential Confirmations of Quality of Capital

S2-04 Written, non-precedent-setting confirmation of quality of capital

Fee Type: R

Fee-setting Authority: OSFI Act

Date Last Modified: August 13, 2003

Performance Standards1: 90% will be processed in less than 60 calendar days of receipt

Performance Results1: 100% were processed in less than 60 calendar days of receipt


2011-13
($ thousands)
Planning years
Forecast Revenue Actual Revenue Full Cost Fiscal Year Forecast Revenue Estimated Full Cost
96 76 76 2013-14 96 96
2014-15 96 96
2015-16 96 96

User Fee: Copies of Corporate Documents and Certificates of Confirmation

S2-10 Copies of any one of the following corporate documents (per request and per body corporate): (a) a certificate of confirmation; (b) a certified copy of letters patent or of incorporation or amalgamation documents; and (c) the corporate history of a body corporate

Fee Type: Other Products and Services (O)

Fee-setting Authority: OSFI Act

Date Last Modified: August 13, 2003

Performance Standards1: 90% will be processed within 2 business days of receipt

Performance Results1: 100% were processed within 2 business days of receipt


2012-13
($ thousands)
Planning years
($ thousands)
Forecast Revenue Actual Revenue Full Cost Fiscal Year Forecast Revenue Estimated Full Cost
57 99 99 2013-14 57 57
2014-15 57 57
2015-16 57 57

User Fee: Access to Information User Fees

Fees charged for processing access requests filed under the Access to Information Act

Fee Type: O

Fee-setting Authority: Access to Information Act

Date Last Modified: 1992

Performance Standards1: Response provided within 30 days following receipt of request; the response time may be extended pursuant to section 9 of the Access to Information Act. Notice of extension to be sent within 30 days after receipt of request. The Act provides more details: http://laws.justice.gc.ca/en/A-1/218072.htm.

Performance Results1: Statutory deadline of 30 days met 100% of the time


2012-13
($ thousands)
Planning years
($ thousands)
Forecast Revenue Actual Revenue Full Cost Fiscal Year Forecast Revenue Estimated Full Cost
4 1 238 2013-14 4 226
2014-15 4 226
2015-16 4 226

Other Information:

In July 2000, the Canada Customs and Revenue Agency ruled that most of the service charges are exempted from GST under the Excise Tax Act.

A fee is either identified as “Regulatory” (R) or “Other Products and Services” (O). A Regulatory fee relates to an activity undertaken by a department that is integral to the effectiveness of a program and successful achievement of the program mandate requires moderating, directing, testing, or approving the actions of external parties.

The full cost is based on the fiscal year salary levels according to collective agreements, the fiscal year Treasury Board benefit factors and OSFI’s factor for indirect costs.

1Note: According to prevailing legal opinion, where the corresponding fee introduction or most recent modification occurred prior to March 31, 2004:

  • the performance standard, if provided, may not have received parliamentary review; and
  • the performance standard, if provided, may not respect all establishment requirements under the User Fee Act (e.g. international comparison; independent complaint address); and
  • the performance result, if provided, is not legally subject to section 5.1 of the UFA regarding fee reductions for unachieved performance service standards may not have received parliamentary review.

 

User Fee Totals

  2012-13
($ thousands)
Planning years
($ thousands)
Forecast Revenue Actual Revenue Full Cost Fiscal Year Forecast Revenue Estimated
Full Cost
Subtotal
regulatory
552 552 552 2013-14 544 544
2014-15 544 544
2015-16 544 544
Subtotal
other
products
and
services
61 100 337 2013-14 61 283
2014-15 61 283
2015-16 61 283
Total 613 652 889 2013-14 613 835
2014-15 613 835
2015-16 613 835

 

External Fees (Policy on Service Standards for External Fees)

External Fee Service Standard2 Performance Results3 Stakeholder Consultation
2012-13 or prior

Superintendent Non-deemed Approvals Except Deposit and Trust Agreements and Letters of Credit

  1. Approval to maintain a representative office of a foreign bank
  2. Reservation of a name
  3. Accreditation of a provincial reinsurer

90% will be processed in less than 60 calendar days of receipt

100% were processed in less than 60 calendar days of receipt

Although the number of approvals subject to a Regulatory fee represents 10% of the total approvals processed in 2012-2013, OSFI applies these standards to all application for regulatory approvals in order to provide a better quality of service.4

Ministerial Approvals

  1. Letters patent of incorporation
  2. Letters patent of continuance
  3. Order permitting a foreign bank to carry on banking business in Canada
  4. Order approving the insuring in Canada of risks by a foreign body corporate
  5. Exemption from material banking group status
  6. Approval for a foreign bank or entity associated with a foreign bank to have a financial establishment in Canada
  7. Approval for a foreign bank or entity associated with a foreign bank in respect of investments and activities in Canada

80% will be processed in less than 90 calendar days of receipt

100% were processed in less than 90 calendar days of receipt

Although the number of approvals subject to a Regulatory fee represents 10% of the total approvals processed in 2012-2013, OSFI applies these standards to all application for regulatory approvals in order to provide a better quality of service.4

Precedents / Rulings / Interpretations

  1. Written, precedent-setting ruling relating to the quality of capital
  2. Written interpretation of Acts, regulations, guidelines or rulings

80% will be processed in less than 180 calendar days of receipt

100% were processed in less than 180 calendar days of receipt

Although the number of approvals subject to a Regulatory fee represents 10% of the total approvals processed in 2012-2013, OSFI applies these standards to all application for regulatory approvals in order to provide a better quality of service.4

Non-precedential Confirmations of Quality of Capital

Written, non-precedent-setting confirmation of quality of capital

90% will be processed in less than 60 calendar days of receipt

100% were processed in less than 60 calendar days of receipt

Although the number of approvals subject to a Regulatory fee represents 10% of the total approvals processed in 2012-2013, OSFI applies these standards to all application for regulatory approvals in order to provide a better quality of service.4

Copies or Corporate Documents and Certificates of Confirmation

Copies of any one of the following corporate documents (per request and per body corporate): (a) a certificate of confirmation; (b) a certified copy of letters patent or of incorporation or amalgamation documents; and (c) the corporate history of a body corporate

90% will be processed  within 2 business days of receipt

100% were processed within 2 business days of receipt

Although the number of approvals subject to a Regulatory fee represents 10% of the total approvals processed in 2012-2013, OSFI applies these standards to all application for regulatory approvals in order to provide a better quality of service4.

Other Information: None.

2 As established pursuant to the Policy on Service Standards for External Fees:

  • service standards may not have received parliamentary review; and
  • service standards may not respect all performance standard establishment requirements under the UFA (e.g. international comparison; independent complaint address).

3 Performance results are not legally subject to section 5.1 of the UFA regarding fee reductions for unachieved performance.

4 During 2012-2013, OSFI conducted a confidential consultation with deposit-taking institutions and a survey of senior executives of federally regulated financial institutions. Results showed that OSFI’s Approvals staff is perceived to respond in a timely manner to requests, and to provide opportunities for companies to discuss issues of concern. Further results showed that OSFI’s guidance provides clear and transparent expectations in a way that is easy to understand.