ID
2021-005

Type
Policy
Sector
Credit Unions and Caisses Populaires
Status
Public comment closed
Date
Comment Due Date

Summary

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

Overview

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.   

Participate

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.

Useful Link:

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Before we begin, please make sure you do not include any personal or private financial information. If your inquiry does require this information be shared with us, please call us at 1-800-668-0128 or email us at contactcentre@fsrao.ca for instructions.

By submitting your content, you agree to have your materials posted on our engagement portal, used in reports and other materials prepared by Financial Services Regulatory Authority of Ontario (FSRA) that may be shared with the public. Content is moderated so that all posts are respectful and professional. The Freedom of Information and Protection of Privacy Act, R.S.O. 1990, c.F.31, applies to all online content.

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Sector Comment Date posted Sort ascending
Credit Unions and Caisses Populaires
[2021-005] Tara Daniel - Meridian

October 5, 2021
Credit Unions and Caisses Populaires
[2021-005] Meridian, Alterna, FirstOntario, DUCA, Libro

October 5, 2021
Credit Unions and Caisses Populaires
[2021-005] Lloyd Smith - FirstOntario Credit Union

October 5, 2021
Credit Unions and Caisses Populaires
[2021-005] DUCA

October 5, 2021
Credit Unions and Caisses Populaires
[2021-005] Nick Best - Canadian Credit Union Association (CCUA)

October 5, 2021
Credit Unions and Caisses Populaires
[2021-005] Rob Paterson - Alterna Savings

October 5, 2021
Credit Unions and Caisses Populaires
[2021-005] Central 1 Credit Union

October 5, 2021
Credit Unions and Caisses Populaires
[2021-005] Canadian Bankers Association (CBA)

October 5, 2021
Credit Unions and Caisses Populaires
[2021-005] Bernard Brun - Mouvement Desjardins
Bonjour,
Vous trouverez ci-joint les commentaires du Mouvement Desjardins pour cette consultation.
Pour toute question, n’hésitez pas à communiquer avec le soussigné.
October 5, 2021
Credit Unions and Caisses Populaires
[2021-005] Stephen Bolton - Libro Credit Union
Thank you for the opportunity to participate in this critical rule consultation. Our formal response is attached.
September 14, 2021
No questions have been asked about this consultation yet.