User Fees

User Fees, Regulatory Charges and External Fees

Reporting on the User Fees Act

General and Financial Information by Fee
General Information

Fee name 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

 

Fee-setting authority Office of the Superintendent of Financial Institutions (OSFI) Act

 

Year introduced 1999

 

Year last amended 2006

 

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

 

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

Financial Information, 2014–15 (dollars)

Forecast revenue Actual revenue Full cost
46,400 59,653 59,653

Financial Information, 2015–16, 2016–17 and 2017–18 (dollars)                       

Planning year Forecast revenue Estimated full cost
2015–16 46,400 46,400
2016–17 46,400 46,400
2017–18 46,400 46,400

General Information

Fee name 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 Regulatory 
Fee-setting authority OSFI Act
Year introduced 1999
Year last amended 2006
Performance standard 80% will be processed in less than 90 calendar days of receipt.
Performance results 100% were processed in less than 90 calendar days of receipt.

Financial Information, 2014–15 (dollars)

Forecast revenue Actual revenue Full cost
304,000 312,488 312,488

Financial Information, 2015–16, 2016–17 and 2017–18 (dollars)

Planning year Forecast revenue Estimated full cost
2015–16 304,000 304,000
2016–17 304,000 304,000
2017–18 304,000 304,000

General Information

Fee name Precedents / Rulings / Interpretations
S2-01 Written, precedent-setting ruling relating to the quality of capital
S2-03 Written interpretation of Acts, regulations, guidelines or rulings
Fee type Regulatory
Fee-setting authority OSFI Act
Year introduced 1999
Year last amended 2003
Performance standard 80% will be processed in less than 180 calendar days of receipt.
Performance results 100% were processed in less than 180 calendar days of receipt.

Financial Information, 2014–15 (dollars)

Forecast revenue Actual revenue Full cost
4,000 12,056 12,056

Financial Information, 2015–16, 2016–17 and 2017–18 (dollars)

Planning year Forecast revenue Estimated full cost
2015–16 4,000 4,000
2016–17 4,000 4,000
2017–18 4,000 4,000

General Information

Fee name Non-precedential Confirmations of Quality of Capital
S2-04 Written, non-precedent-setting confirmation of quality of capital
Fee type Regulatory
Fee-setting authority OSFI Act
Year introduced 1999
Year last amended 2003
Performance standard 90% will be processed in less than 60 calendar days of receipt.
Performance results 98% were processed in less than 60 calendar days of receipt.

Financial Information, 2014–15 (dollars)

Forecast revenue Actual revenue Full cost
36,000 243,280 243,280

Financial Information, 2015–16, 2016–17 and 2017–18 (dollars)

Planning year Forecast revenue Estimated full cost
2015–16

 

36,000

 

36,000

 

2016–17

 

36,000

 

36,000

 

2017–18

 

36,000

 

36,000

 

General Information

Fee name 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

 

Fee-setting authority OSFI Act

 

Year introduced 1999

 

Year last amended 2003

 

Performance standard 90% will be processed within 2 business days of receipt.

 

Performance results 100% were processed within 2 business days of receipt.

 

Financial Information, 2014–15 (dollars)

Forecast revenue Actual revenue Full cost
125,000

 

114,450

 

114,450

 

Financial Information, 2015–16, 2016–17 and 2017–18 (dollars)

Planning year Forecast revenue Estimated full cost
2015–16

 

125,000

 

125,000

 

2016–17

 

125,000

 

125,000

 

2017–18

 

125,000

 

125,000

 

General Information

Fee name Fees for processing requests filed under the Access to Information Act

 

Fee type Other products and services

 

Fee-setting authority Access to Information Act

 

Year introduced 1988

 

Year last amended 1992

 

Performance standard A response is provided within 30 days following receipt of a request; the response time may be extended under section 9 of the Access to Information Act.

 

Performance results The department responded within 30 days in 100 per cent of cases.Footnote *

 

Financial Information, 2014–15 (dollars)

Forecast revenue Actual revenue Full cost
1,000

 

182

 

228,000

 

Financial Information, 2015–16, 2016–17 and 2017–18 (dollars)

Planning year Forecast revenue Estimated full cost
2015–16

 

500

 

230,000

 

2016–17

 

500

 

233,000

 

2017–18

 

500

 

236,000

 

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 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.

Note: 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;
  • 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 User Fee Act regarding fee reductions for unachieved performance.

Summary of Financial Information for All User Fees and Regulatory Charges

Summary of Financial Information for All User Fees and Regulatory Charges,
2014–15 (dollars)

<>  
Forecast revenue Actual revenue Full cost
Regulatory subtotal

390,400

627,477

627,477

Other products and services subtotal

126,000

114,632

342,450

Total, all fee types

516,400

742,109

969,927

Summary of Financial Information for All User Fees and Regulatory Charges,
2015–16, 2016–17 and 2017–18 (dollars)

  Planning year Forecast revenue Estimated full cost
Regulatory subtotal 2015–16

 

390,400

 

390,400

 

2016–17

 

390,400

 

390,400

 

2017–18

 

390,400

 

390,400

 

Other products and services subtotal 2015–16

 

125,500

 

355,000

 

2016–17

 

125,500

 

358,000

 

2017–18

 

125,500

 

361,000

 

Total, all fee types 2015–16

 

515,900

 

745,400

 

2016–17

 

515,900

 

748,400

 

2017–18

 

515,900

 

751,400

 

Reporting on the Policy on Service Standards for External Fees

General Information by Fee

General Information

External fee name 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

 

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

 

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

 

Stakeholder consultation in
2014–15 or prior fiscal years
Although the number of approvals subject to a Regulatory fee represents 20% of the total approvals processed in 2014-15, OSFI applies these standards to all application for regulatory approvals in order to provide a better quality of service.

 

External fee name 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

 

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

 

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

 

Stakeholder consultation in
2014–15 or prior fiscal years
Although the number of approvals subject to a Regulatory fee represents 20% of the total approvals processed in 2014-15, OSFI applies these standards to all application for regulatory approvals in order to provide a better quality of service.

 

External fee name Precedents/ Rulings/ Interpretations
S2-01 Written, precedent-setting ruling relating to the quality of capital
S2-03 Written interpretation of Acts, regulations, guidelines or rulings

 

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

 

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

 

Stakeholder consultation in
2014–15 or prior fiscal years
Although the number of approvals subject to a Regulatory fee represents 20% of the total approvals processed in 2014-15, OSFI applies these standards to all application for regulatory approvals in order to provide a better quality of service.

 

External fee name Non-precedential Confirmations of Quality of Capital
S2-04 Written, non-precedent-setting confirmation of quality of capital

 

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

 

Performance results 98% were processed in less than 60 calendar days of receipt.

 

Stakeholder consultation in
2014–15 or prior fiscal years
Although the number of approvals subject to a Regulatory fee represents 20% of the total approvals processed in 2014-15, OSFI applies these standards to all application for regulatory approvals in order to provide a better quality of service.

 

External fee name 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

 

Service standard 90% will be processed within 2 business days of receipt.

 

Performance results 100% were processed within 2 business days of receipt.

 

Stakeholder consultation in 2014–15 or prior fiscal years Although the number of approvals subject to a Regulatory fee represents 20% of the total approvals processed in 2014-15, OSFI applies these standards to all application for regulatory approvals in order to provide a better quality of service.

 

Other information

During 2014-15, OSFI conducted a confidential consultation with property and casualty companies and a survey with executives of federally regulated financial institutions.  Results showed that OSFI’s Approvals staff is perceived to respond in a timely manner to requests for approvals 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. Findings from these two studies are available on OSFI’s web siteFootnote 1.

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

 

  • Service standards may not have received parliamentary review;
  • Service standards may not respect all performance standard establishment requirements under the Users Fees Act (e.g., international comparison or independent complaint process); and
  • Performance results are not legally subject to section 5.1 of the Users Fees Act regarding fee reductions for unachieved performance.

Footnotes

Footnote 1

http://www.osfi-bsif.gc.ca/Eng/osfi-bsif/rep-rap/srv-sdg/Pages/fis1415_let.aspx

Return to footnote 1 referrer

Footnote *

Includes cases where a Notice of Extension is sent to the requester within 30 days of receipt of the request. The Actprovides more details: http://laws.justice.gc.ca/en/A-1/218072.htm.

Return to footnote * referrer