Canada:
Federal Financial Institutions Legislative And Regulatory Reporter — February 2018
03 April 2018
Borden Ladner Gervais LLP
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The Reporter provides a monthly summary of Canadian federal
legislative and regulatory developments of relevance to federally
regulated financial institutions. It does not address Canadian
provincial financial services legislative and regulatory
developments, although this information is tracked by BLG and can
be provided on request. In addition, purely technical and
administrative changes (such as changes to reporting forms) are not
covered.
February 2018
Institution
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Published
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Title and Brief Summary
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Status
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Bank for International Settlements
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February 27, 2018
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Consultative Document: Pillar 3 disclosure
requirements - updated framework
The proposals include new or revised disclosure requirements:
- for credit risk (including provisions for prudential treatment
of assets), operational risk, the leverage ratio and credit
valuation adjustment ("CVA");
- that would benchmark a bank's risk-weighted assets
("RWA") as calculated by its internal models with RWA
calculated according to the standardized approaches; and
- that provide an overview of risk management, key prudential
metrics and RWA.
Moreover, it proposes new disclosure requirements on asset
encumbrance and capital distribution constraints.
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Comments should be provided by May 25, 2018.
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Payments Canada
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February 24, 2018
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Payments Canada: Changes to Our Rules and
Standards
The following amendments were approved by Payments Canada's
board of directors and the Department of Finance:
- New ACSS Rule L3 — Collateral to provide for the
procedures and methodologies for:
- The initial establishment of a collateral pool and collateral
pool pledge of each direct clearer, and the monthly recalibrations
of the collateral pool size and collateral pool pledges to account
for changes to value being cleared and settled through ACSS;
- The recalculation of the collateral pool pledge of each direct
clearer upon a default or the withdrawal of a direct clearer;
and
- The calculation of the collateral pool pledge of a new direct
clearer.
- ACSS Rule L1 amendments to provide for:
- The methodology for calculating default and additional
contributions of surviving direct clearers;
- The process for making such contributions.
- ACSS Rule B1 — amendments to incorporate into the Rules
the current time at which settlement will be effected (note that
there is no change to the current settlement time).
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Effective
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OSFI [Banks,
Bank Holding Companies,
Federally Regulated Trust and Loan Companies,
Cooperative Retail Associations]
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February 6, 2017
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OSFI's Implementation Timeline for the Net
Stable Funding Ratio ("NSFR")
Based on implementation progress at the international level,
OSFI has determined that it will target a revised NSFR
implementation date for Canadian deposit-taking institutions.
Relevant areas of the Liquidity Adequacy Requirements
("LAR") Guideline have been updated to reflect the
domestic NSFR implementation delay. Until OSFI begins its public
consultation process on the NSFR rules and issues a draft guideline
for comment, the LAR Guideline will continue to contain placeholder
text reflecting OSFI's commitment to implement the NSFR
standard in Canada.
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Effective January 2020.
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