Canada:
Federal Financial Institutions Legislative And Regulatory Reporter - November 2014
22 December 2014
Borden Ladner Gervais LLP
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The Reporter provides a monthly summary of Canadian federal
legislative and regulatory developments of relevance to federally
regulated financial institutions. It does not address Canadian
provincial financial services legislative and regulatory
developments, although this information is tracked by BLG and can
be provided on request. In addition, purely technical and
administrative changes (such as changes to reporting forms) are not
covered.
November 2014
Institution
|
Published
|
Title and Brief Summary
|
Status
|
OSFI
[Applicable to banks, bank holding companies, cooperative retail
associations, and trust and loan companies]
|
Issued – Nov 24, 2014
|
Guideline D-12 on Public Disclosure
Requirements related to Basel III Leverage Ratio
Guideline D-12 has received minor consequential revisions that
reflect updated references to numbered paragraphs in the Leverage
Requirements guideline. Guideline D-12 is otherwise unchanged.
|
Effective Jan 1, 2015
|
OSFI
[Applicable to banks, bank holding companies, cooperative retail
associations, and trust and loan companies]
|
Issued – Nov 14, 2014
|
Liquidity Adequacy Requirements
OSFI is re-issuing Chapters 1, 2, and 6 of its guideline. These
chapters have been updated to clarify interpretation and
applicability regarding the Net Cumulative Cash Flow metric,
intraday liquidity
monitoring tools and the Liquidity Coverage Ratio (LCR) inflow
treatment for certain deposits.
|
Effective Jan 1, 2015
|
OSFI
[Applicable to banks, cooperative retail and credit associations,
trust and loan companies, and insurance companies]
|
Issued – Nov 13, 2014
|
Guideline E-13 Regulatory Compliance
Management
OSFI is issuing the final version of revised Guideline
E-13 (re-named Regulatory Compliance Management) to reflect
current industry best practices. The draft Guideline is intended to
revise and replace the 2003 Guideline
E-13 - Legislative Compliance Management (LCM) to better
align it with more recently updated OSFI Guidelines and to
complement OSFI's Supervisory Framework and Assessment Criteria.
|
Effective by May 1, 2015
|
OSFI
[Applicable to insurance companies]
|
Issued – Nov 6, 2014
|
B-21 Residential Mortgage Insurance
Underwriting Practices and Procedures
OSFI is issuing the final version of Guideline B-21. The Guideline
sets out OSFI's expectations with respect to prudent
residential mortgage insurance underwriting and related
activities.
|
Effective
|
OSFI
[Applicable to insurance companies]
|
Issued – Nov 6, 2014
|
Minimum Continuing Capital and Surplus
Requirements
OSFI is issuing the final revised version of its MCCSR guideline
for life insurers.
|
Effective Jan 1, 2015
|
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