The AMF maintains a deposit insurance fund to ensure the performance of its guarantee obligation and to enable it to exercise special powers. Premiums collected are allocated to this fund, as are any amounts the Minister of Finance may pay into it. The AMF may invest the sums making up the deposit insurance fund with the Caisse de dépôt et placement du Québec.

Should the fund lack sufficient financial resources, the Minister of Finance may make advances to the AMF out of the consolidated revenue fund or guarantee the payment of AMF's obligations.

Further details on the deposit insurance fund are available in the AMF's most recent annual report.

Financing

The AMF collects a premium from all registered institutions under the Deposit Insurance Act  This link will open in a new window, calculated at April 30 of each year and equal to 1/25 of 1% of all deposits received in Québec and guaranteed by the AMF at this date. This premium is payable by all institutions incorporated under the laws of Québec or of another jurisdiction.

Because their deposits are guaranteed by the Canada Deposit Insurance Corporation (CDIC), registered trust companies and savings companies incorporated under a federal charter need not pay premiums to the AMF.

The premium payable by a financial services cooperative is reduced by one half if the cooperative is a member of a security fund whose mission is to avoid or reduce disbursements by the AMF. At the Authority's request, the Government may fix a different reduction.