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Perspectives

Rapport sur la législation et la réglementation applicables aux institutions financières fédérales

Le Reporter (publié en anglais seulement) est un sommaire mensuel de l’évolution des législations et réglementations internationales et fédérales canadiennes qui sont pertinentes pour les institutions financières de régime fédéral au Canada. Il ne traite pas de l’évolution législative ou réglementaire des services financiers provinciaux, bien que BLG suive de près tout changement dans ce secteur et puisse, sur demande, fournir de l’information à ce sujet. De plus, les modifications de nature purement technique et administrative (comme celles qui sont apportées aux formulaires de rapport) ne sont pas traitées.

Avril 2018

Institution

Published

Title and Brief Summary

Status

Financial Stability Board ("FSB")

April 26, 2018

Governance arrangements for the unique product identifier ("UPI"): second consultation document

This consultation document sets out proposed governance arrangements for a global unique product identifier ("UPI") designed to facilitate effective aggregation of transaction reports about over-the-counter ("OTC") derivatives markets.

The primary purpose of the UPI is to identify the product that is the subject of an OTC derivatives transaction. This would allow authorities to aggregate trade reporting data not only to consider institution-specific risks but also to consider system-wide risks.

Comments should be provided by May 28, 2018.

Finance

April 18, 2018 (Gazette)

Bank Recapitalization (Bail-in) Conversion Regulations, SOR/2018-57; Bank Recapitalization (Bail-in) Issuance Regulations, SOR/2018-58;and Compensation Regulations, SOR/2018-59

  1. TheBank Recapitalization (Bail-in) Conversion Regulations("Bail-in Conversion Regulations) set out the scope of liabilities of domestic systemically important banks that would be eligible for a bail-in conversion and conversion terms if a bail-in were to be executed.
  2. TheBank Recapitalization (Bail-in) Issuance Regulations("Bail-in Issuance Regulations) set out requirements that domestic systemically important banks would have to follow when issuing bail-in eligible instruments.
  3. TheCompensation Regulationsset out an updated process for providing compensation to shareholders and creditors of CDIC federal member institutions if they are made worse off as a result of CDIC’s actions to resolve the institution (including through bail-in) than they would have been if the institution were liquidated.

The Bail-in Conversion Regulations and the Bail-in Issuance Regulations apply only to systemically important banks; however, theCompensation Regulationsapply to all CDIC federal member institutions.

Effective September 23, 2018

OSFI
[Domestic Systemically Important Banks ("D-SIBs")]

April 18, 2018

Final Total Loss Absorbing Capacity ("TLAC") guideline for Canada’s domestic systemically important banks

TLAC requirements are designed to ensure a D-SIB has sufficient loss absorbing capacity to support its recapitalization in the unlikely event of a failure.

Effective September 23, 2018

OSFI
[Banks
Bank Holding Companies
Federally Regulated Trust and Loan Companies
Cooperative Retail Associations]

April 18, 2018

Changes to Guideline A – Capital Adequacy Requirements ("CAR")

The changes to the CAR guideline, which consist primarily of revisions to Chapter 2, implement the amendments to Basel III.

OSFI has further determined that it is appropriate to extend the Basel III treatment to holdings of Other TLAC instruments issued by Canadian domestic systemically important banks ("D-SIBs").

Effective

Changes relating to holdings of Other TLAC instruments effective in Q1 2019.

 

Disclaimer

This Reporter is prepared as a service for our clients. It is not intended to be a complete statement of the law or an opinion on any subject. Although we endeavour to ensure its accuracy, no one should act upon it without a thorough examination of the law after the facts of a specific situation are considered.

To view the Reporter for previous months, please visit our Banking and Financial Services publications page.

  • Par : Jeffrey S. Graham