Rule 2019 – 002 Credit Union Deposit Insurance Advertising Rule
On April 8, 2020, the Minister of Finance approved the Credit Union Deposit Insurance Advertising Rule. The Advertising Rule governs how credit unions advertise deposit insurance coverage. Credit unions are required to display decals and promotional material in branches and on their websites.
The Rule is effective on April 23, 2020. In accordance with the Rule, credit unions and caisses populaires are expected to have the new advertising material (e.g., decals, brochures) posted and available by July 23, 2020, three months after the Rule comes into effect.
Other resources:
For all other information regarding the Rule, please see prior notices and comments.
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.
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.)