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.
March 2015
Institution |
Published |
Title and Brief Summary |
Status |
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Bank of Canada |
Issued – |
In January, the Bank of Canada announced its intention to add certain Canadian-dollar term asset- backed securities (ABS) to its list of assets eligible as collateral under the Bank of Canada's SLF. A consultation period followed and the comments received from market participants were taken into consideration. Two modifications have been made relative to the initial conditions proposed. |
Effective |
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Finance |
Published (Gazette) – March 25, 2015 |
The changes proposed are to acknowledge the reality that data collection and systems requirements of a foreign jurisdiction may not be readily compatible with the data and system requirements imposed in the By-law. The amendments extend the time within which a member institution is required to provide information from its foreign branches in a resolution scenario. Further, the amendments relieve a member institution from providing certain information about deposit liabilities posted at foreign branches and from ensuring that a foreign branch has certain specified capabilities. |
In Force March 5, 2015 |
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BIS/Basel |
Margin requirements for non-centrally cleared
derivatives
|
Relative to the2013 framework, the full phase-in schedule
has been adjusted to reflect this nine-month delay, from The revisions also institute a six-month
phase-in of the requirement to |
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