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Basel III Compliance in Canada
November 4, 2023
7:15 pm
MoneyManager
Toronto
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It seems that the banks in Canada may be Basel III compliant, but does anyone know if the credit unions are as well?

November 5, 2023
8:47 am
Dean
Valhalla Mountains, British Columbia
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Quote:

    "These changes to capital and liquidity rules help ensure a strong financial services industry where federally regulated financial institutions are able to compete effectively. They also ensure these institutions maintain an adequate level of capital and liquidity to help protect depositors and creditors in case of an adverse event."
    .
    Peter Routledge, OSFI Superintendent

.
Link ➡ https://www.osfi-bsif.gc.ca/Eng/osfi-bsif/med/Pages/basel23_nr.aspx
.

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

November 5, 2023
9:32 am
Doug
British Columbia, Canada
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MoneyManager said
It seems that the banks in Canada may be Basel III compliant, but does anyone know if the credit unions are as well?  

There is no federal legislated requirement for this, as far as I'm aware. Most credit unions are provincially regulated, in terms of their capital and liquidity adequacy, so standards can vary from province to province, though there is some coordination on this through the (admittedly dormant) Credit Union Prudential Supervisors Association, https://cupsa-aspc.ca/home.html. It's a national coordinating body among provincial credit union regulatory agencies. sf-cool

Cheers,
Doug

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