Le Reporter (publié en anglais seulement) est un sommaire mensuel de l'évolution des législations et réglementations internationales et fédérales canadiennes qui sont pertinentes pour les institutions financières de régime fédéral au Canada. Il ne traite pas de l'évolution législative ou réglementaire des services financiers provinciaux, bien que BLG suive de près tout changement dans ce secteur et puisse, sur demande, fournir de l'information à ce sujet. De plus, les modifications de nature purement technique et administrative (comme celles qui sont apportées aux formulaires de rapport) ne sont pas traitées.

Décembre 2015

Institution

Published

Title and Brief Summary

Status

OSFI

[Applicable to insurance companies]

Issued December 29, 2015

Guide for the Demutualization of Mutual Property and Casualty Insurance Companies with Non-mutual Policyholders

The primary purpose of this Guide is to promote awareness and enhance the transparency of the process and assessment criteria relative to the demutualization of an MPCC. The Guide describes the regulatory requirements relating to the demutualization of an MPCC and sets out the information that must be provided to OSFI at each phase of the demutualization process.

Effective

BIS/Basel

[Applicable to banks]

Published December 21, 2015

Guidance on the application of the Core principles for effective banking supervision to the regulation and supervision of institutions relevant to financial inclusion

The Basel Committee on Banking Supervision has issued for public consultation proposed guidance for the regulation and supervision of institutions relevant to financial inclusion.

This consultative document builds on past work by the Committee to elaborate additional guidance in the application of the Committee's Core principles for effective banking supervision to the supervision of financial institutions engaged in serving the financially unserved and underserved.

Comments should be provided no later than March 31, 2016

BIS/Basel

 

[Applicable to banks]

Published December 18, 2015

Guidance on credit risk and accounting for expected credit losses issued by the Basel Committee

Comprising 11 principles, the guidance sets out supervisory expectations for banks relating to sound credit risk practices associated with implementing and applying an expected credit loss (ECL) accounting framework. Among these principles, three provide guidelines for supervisory evaluation of credit risk practices, accounting for expected credit losses and the related supervisor's assessment of a bank's capital adequacy. The document is intended to set out guidelines on accounting for expected credit losses regardless of the applicable accounting standards.

Effective

OSFI

[Applicable to banks, trust and loan companies and mortgage insurance companies]

Issued December 11, 2015

Updating capital requirements for residential mortgages

OSFI is working on changes to capital requirements for residential mortgages. The anticipated changes will impact the regulatory capital requirements for those deposit-taking institutions using internal models for mortgage default risk and the standardized capital requirements for Canada's private mortgage insurers. The planned changes will ensure that capital requirements keep pace with housing market developments and reflect the underlying risks.

n/a

BIS/Basel

[Applicable to banks]

Published December 10, 2015

Revisions to the Standardised Approach for credit risk: Basel Committee issues second consultative document

The second consultative document on Revisions to the Standardised Approach for credit risk forms part of the Committee's broader review of the capital framework to balance simplicity and risk sensitivity, and to promote comparability by reducing variability in risk-weighted assets across banks and jurisdictions.

Comments should be provided no later than March 11, 2016

Bank of Canada

Issued December 3, 2015

Public Consultation: Policy guidance on the Bank of Canada's risk-management standards for designated financial market infrastructures - Standard 24: Recovery Plans

The Bank of Canada published draft policy guidance related to its risk-management standards for designated Canadian financial market infrastructures (FMIs). The new guidance published relates to Standard 24 on FMI recovery plans.

Comments should be provided no later than February 1, 2016

IAIS

[Applicable to insurance companies]

Published December 2, 2015

Insurance Core Principles Revision

The IAIS adopted revisions to the Insurance Core Principles. Revisions were adopted to Licensing, Suitability of Persons, Corporate Governance, Risk Management and Internal Controls, Group-wide Supervision and Supervisory Cooperation and Coordination. These changes were initiated following conclusion of comprehensive Self-Assessments and Peer Reviews (SAPR) of the related ICPs.

They also take into account recent developments in group supervision, corporate governance and risk management as well as principles, standards and guidance issued by other standard setting bodies.

Effective November 12, 2015

 

Disclaimer

This Reporter is prepared as a service for our clients. It is not intended to be a complete statement of the law or an opinion on any subject. Although we endeavour to ensure its accuracy, no one should act upon it without a thorough examination of the law after the facts of a specific situation are considered.

Autre auteur

Jeffrey S. Graham

Compétences

Services financiers
Services bancaires et financiers
Réglementation des services financiers