The Reporter provides a monthly summary of significant international and Canadian federal legislative and regulatory developments of relevance to federally regulated financial institutions in Canada. It does not address 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 2015
Institution |
Published |
Title and Brief Summary |
Status |
(Banks and Bank Holding Companies) (Cooperative Credit Associations) (Insurance Companies and Insurance Holding Companies) (Trust and Loan Companies) |
Published (Gazette) – Feb 25, 2015 |
SOR/2015-29 Regulations Amending the Annual Statement (Banks and Bank Holding companies) Regulations SOR/2015-30 Regulations Amending the Annual Statement (Cooperative Credit Associations) Regulations SOR/2015-31 Regulations Amending the Annual Statement (Insurance Companies and Insurance Holding Companies) Regulations SOR/2015-32 Regulations Amending the Annual Statement (Trust and Loan Companies) Regulations
|
In Force February 6, 2015 |
BIS/Basel |
The Joint Forum surveyed supervisors and firms in the banking, securities and insurance sectors globally in order to understand how credit risk supervision and management have changed. Based on its analysis of the responses and subsequent discussions with firms, the Joint Forum makes recommendations for consideration by supervisors. |
Comments were to be submitted by March 4, 2015 |
|
BIS/Basel |
Guidance on accounting for expected credit losses - consultative document The guidance sets forth supervisory expectations for expected
credit losses (ECL) accounting that are consistent with the
applicable accounting standards established by the International
Accounting Standards Board and other standard setters. In addition,
the paper presents the Committee's view of the robust
application of those standards, including circumstances in which
the Committee expects internationally active banks |
Comments should be submitted by April 30, 2015 |
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.