ID
2021-020

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

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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    Sector Comment Date posted Sort ascending
    Credit Unions and Caisses Populaires
    [2021-020] Paul Forgues - The Institute of Internal Auditors Canada

    February 22, 2022
    Credit Unions and Caisses Populaires
    [2021-020] Sabena Sandhu - Canadian Credit Union Association

    February 22, 2022
    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
    February 4, 2022
    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.
    February 2, 2022
    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.
    February 2, 2022
    No questions have been asked about this consultation yet.