FSRA Fee Rule

Rule 2019 – 001 FSRA Fee Rule
(Ensures that FSRA can carry out its legislated mandate as a self-funded agency that operates on a cost-recovery basis.)

Deposit Insurance Advertising

Rule 2019 – 002 Credit Union Deposit Insurance Advertising Rule
(Prescribes what credit unions can and cannot say when advertising deposit insurance.)

Standards of Sound Business and Financial Practices

By-law No. 5: Standards of Sound Business and Financial Practices
(Provides best practices for Ontario credit unions, including required policies and procedures for risk management and a definition of the roles of the board of directors, the audit committee and management personnel.)

Reserves and Monthly Provision for Doubtful Loans

By-law No. 6: Reserves and Monthly Provision for Doubtful Loans
(Sets guidelines for the reporting and accounting of impaired loans, in accordance with International Financial Reporting Standards (IFRS) 9.)

Final Rules Under the Credit Union and Caisses Populaires Act, 2020 (CUCPA 2020)

2021- 001 Sound Business and Financial Practices Rule

The Sound Business and Financial Practices Rule introduces a principles-based approach to business and financial practices by setting outcomes. The Sound Business and Financial Practices Rule was approved by the Minister of Finance on February 9, 2022 and is effective as of March 1, 2022. Note: The Sound Business and Financial Rule replaces Deposit Insurance Corporation (DICO) By-law No. 5.

For all other information regarding the Rule, please see prior notices and comments.

2021- 002 Capital Adequacy Requirements for Credit Unions and Caisses Populaires Rule

The Capital Adequacy Requirements for Credit Unions and Caisses Populaires 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. The Rule was approved by the Minister of Finance on February 9, 2022 and is effective as of March 1, 2022. 

For all other information regarding the Rule, please see prior notices and comments.

2021- 003 Liquidity Adequacy Requirements for Credit Unions and Caisses Populaires Rule

The Liquidity Adequacy Requirements for Credit Unions and Caisses Populaires Rule promotes a stronger credit union sector through the assessment and maintenance of adequate and appropriate forms of liquidity and better alignment with international standards. The Rule was approved by the Minister of Finance on February 9, 2022 and is effective as of March 1, 2022. 

For all other information regarding the Rule, please see prior notices and comments.