ID
2021-006

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

Summary

The Financial Services Regulatory Authority of Ontario (FSRA) is making the supervision of Ontario’s credit unions more transparent and effective.

FSRA is holding a 90-day consultation on its Proposed Liquidity Adequacy Requirements for Credit Unions and Caisses Populaires Rule

Overview

The Proposed 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.

It sets new requirements for:

  • Diversification of Funding
  • Calculation and Reporting of Liquidity Ratios: Liquidity Coverage Ratio, Net Stable Funding Ratio, and Net Cumulative Cash Flow
  • Internal Liquidity Adequacy Assessment Process

The Proposed Rule will be made under the new Credit Unions and Caisses Populaires Act, 2020, once proclaimed into force. It replaces elements of FSRA guidance which interpret liquidity requirements under the existing Credit Unions and Caisses Populaires Act, 1994. 

Participate

FSRA invites comments on the Proposed Rule from June 14, 2021 to September 14, 2021. FSRA is hosting a technical briefing on June 24, 2021 for interested parties. Please register at FSRA's Live Webinar on Ontario's Proposed New Credit Union Rules

Review the proposed rule and provide your comments by selecting “Submit a comment or ask a question.”

Useful Link:

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