CONSOLIDATION

Eligible Financial Contract Regulations (Canada Deposit Insurance Corporation Act)

SOR/2007-255

Current to June 20, 2022 Last amended on June 14, 2016



OFFICIAL STATUS OF CONSOLIDATIONS Subsections 31(1) and (3) of the Legislation Revision and Consolidation Act, in force on June 1, 2009, provide as follows: Published consolidation is evidence

31 (1) Every copy of a consolidated statute or consolidated regulation published by the Minister under this Act in either print or electronic form is evidence of that statute or regulation and of its contents and every copy purporting to be published by the Minister is deemed to be so published, unless the contrary is shown. ... Inconsistencies in regulations

(3) In the event of an inconsistency between a consolidated regulation published by the Minister under this Act and the original regulation or a subsequent amendment as registered by the Clerk of the Privy Council under the Statutory Instruments Act, the original regulation or amendment prevails to the extent of the inconsistency.

LAYOUT The notes that appeared in the left or right margins are now in boldface text directly above the provisions to which they relate. They form no part of the enactment, but are inserted for convenience of reference only.

NOTE This consolidation is current to June 20, 2022. The last amendments came into force on June 14, 2016. Any amendments that were not in force as of June 20, 2022 are set out at the end of this document under the heading “Amendments Not in Force”.

Current to June 20, 2022 Last amended on June 14, 2016

TABLE OF PROVISIONS Eligible Financial Contract Regulations (Canada Deposit Insurance Corporation Act)

Current to June 20, 2022 Last amended on June 14, 2016

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Registration SOR/2007-255

November 15, 2007

CANADA DEPOSIT INSURANCE CORPORATION ACT Eligible Financial Contract Regulations (Canada Deposit Insurance Corporation Act) P.C. 2007-1730

November 15, 2007

Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to subsection 39.15(8)a of the Canada Deposit Insurance Corporation Act, hereby makes the annexed Eligible Financial Contract Regulations (Canada Deposit Insurance Corporation Act).

a

S.C. 2007, c. 29, s. 103(1)

Current to June 20, 2022 Last amended on June 14, 2016

Eligible Financial Contract Regulations (Canada Deposit Insurance Corporation Act)

1 The following definitions apply in these Regulations.

derivatives agreement means a financial agreement whose obligations are derived from, referenced to, or based on, one or more underlying reference items such as interest rates, indices, currencies, commodities, securities or other ownership interests, credit or guarantee obligations, debt securities, climatic variables, bandwidth, freight rates, emission rights, real property indices and inflation or other macroeconomic data and includes (a) a contract for differences or a swap, including a total return swap, price return swap, default swap or basis swap; (b) a futures agreement; (c) a cap, collar, floor or spread; (d) an option; and (e) a spot or forward. (contrat dérivé)

financial intermediary means (a) a clearing agency; or (b) a person, including a broker, bank or trust company, that in the ordinary course of business maintains securities accounts or futures accounts for others. (intermédiaire financier) SOR/2016-142, s. 10(F).

2 The following kinds of financial agreements are prescribed for the purpose of the definition “eligible financial contract” in subsection 39.15(9) of the Canada Deposit Insurance Corporation Act: (a) a derivatives agreement, whether settled by payment or delivery, that (i) trades on a futures or options exchange or

board, or other regulated market, or

Current to June 20, 2022 Last amended on June 14, 2016

Eligible Financial Contract Regulations (Canada Deposit Insurance Corporation) Section 2

(ii) is the subject of recurrent dealings in the derivatives markets or in the over-the-counter securities or commodities markets; (b) an agreement to (i) borrow or lend securities or commodities, including an agreement to transfer securities or commodities under which the borrower may repay the loan with other securities or commodities, cash or cash equivalents, (ii) clear or settle securities, futures, options or

derivatives transactions, or (iii) act as a depository for securities; (c) a repurchase, reverse repurchase or buy-sellback agreement with respect to securities or commodities; (d) a margin loan in so far as it is in respect of a securities account or futures account maintained by a financial intermediary; (e) any combination of agreements referred to in any of paragraphs (a) to (d); (f) a master agreement in so far as it is in respect of an agreement referred to in any of paragraphs (a) to (e); (g) a master agreement in so far as it is in respect of a master agreement referred to in paragraph (f); (h) a guarantee of, or an indemnity or reimbursement obligation with respect to, the liabilities under an agreement referred to in any of paragraphs (a) to (g); and (i) an agreement relating to financial collateral, including any form of security or security interest in collateral and a title transfer credit support agreement, with respect to an agreement referred to in any of paragraphs (a) to (h).

Current to June 20, 2022 Last amended on June 14, 2016

Eligible Financial Contract Regulations (Canada Deposit Insurance Corporation) Section 3

3 These Regulations come into force on the day on which subsection 103(2) of the Budget Implementation Act, 2007, chapter 29 of the Statutes of Canada, 2007 comes into force.

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[Note: Regulations in force on November 17, 2007, see SI/ 2007-105.]

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Current to June 20, 2022 Last amended on June 14, 2016

