ID
2021-020

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

Thank you for providing your feedback on FSRA’s proposed Risk Based Supervisory Framework Guidance.

We appreciate the comments and questions received to date. Your feedback will help to inform our final guidance.

The request for submissions is now closed.

Summary

The Risk Based Supervisory Framework sets out FSRA’s supervisory practices and approach to assessing the risk profile of credit unions.

FSRA’s level and extent of supervision of a credit union under the Risk Based Supervisory Framework will depend on the size, complexity and overall risk profile of the credit union.

FSRA thanks the Technical Advisory Committee for Regulatory and Supervisory Initiatives for their input into the proposed Guidance.

Participate

The public consultation period is open from December 13, 2021 to February 4, 2022.

Review the Consultation Paper 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 [email protected] for instructions.

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Sector Comment Date posted
Credit Unions and Caisses Populaires
[2021-020] Paul Forgues - The Institute of Internal Auditors Canada
Credit Unions and Caisses Populaires
[2021-020] Sabena Sandhu - Canadian Credit Union Association
Credit Unions and Caisses Populaires
[2021-020] Sunny Sodhi - Meridian Credit Union
Please find attached Meridian Credit Union's comments relating to the public consultation on the proposed Risk Based Supervisory Framework. Thank you.

Regards,
Sunny Sodhi
Credit Unions and Caisses Populaires
[2021-020] Bernard Brun - Desjardins
The Desjardins Group, on behalf of the Desjardins Ontario Credit Union (DOCU), is pleased to respond to the request for comment on FSRA’s new Risk Basked Supervisory Framework (RBSF) for credit unions and caisses populaires. Overall, we hold a favourable view of the proposed RBSF. The framework aligns with industry practices, and we appreciate how it supports FSRA’s goal of implementing a principle-based approach to its regulatory and supervisory work. From a credit union’s perspective, it will be our responsibility to demonstrate the strength and effectiveness of our controls, oversight and governance, and the comprehensiveness of our risk management capabilities. Our comments on the proposed RBSF are submitted with the aim of providing constructive feedback to support the achievement of FSRA’s objectives. We continue to appreciate FSRA’s engagement of the sector on such important matters and welcome the opportunity to discuss our comments in greater detail.
Credit Unions and Caisses Populaires
[2021-020] Stephen Bolton - Libro Credit Union
Libro is pleased to provide our formal response to the Risk Based Supervisory Framework Consultation. Please see our attached PDF for full response.
No questions have been asked about this consultation yet.