The Financial Services Regulatory Authority of Ontario (FSRA) is making the supervision of Ontario’s credit unions and caisse populaires more transparent and effective.
FSRA is holding a 90-day consultation on its Proposed Capital Adequacy Requirements for Credit Unions and Caisses Populaires Rule
The Proposed Rule promotes a stronger credit union sector through the assessment and maintenance of adequate and appropriate forms of internal capital, and better alignment with international standards.
It sets new requirements for:
- Calculation of capital ratios and supervisory minimums (Tier 1 and Tier 2 Capital, Risk Weighted Assets, Capital Conservation Buffer, Total Capital Ratio, and Leverage Ratio)
- Credit, Operational, and Market Risk
- Internal Capital Adequacy Assessment Process
The Proposed Rule will be made under the new Credit Unions and Caisses Populaires Act, 2020, once proclaimed into force.
FSRA invites comments on the Proposed Rule from June 14, 2021 to September 14, 2021. FSRA is hosting a technical briefing on June 24, 2021 for interested parties. Please register at FSRA's Live Webinar on Ontario's Proposed New Credit Union Rules
Review the proposed rule and provide your comments by selecting “Submit a comment or ask a question.”
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