Featured Product

    AMF Publishes Guidelines on Solvency and TLAC Requirements

    March 28, 2019

    AMF published the updated guidelines on solvency requirements, along with the updated guidelines on sound and prudent management practices and sound commercial practices. Additionally AMF released the new guideline on Total Loss Absorbing Capacity (TLAC) requirements for financial services cooperatives. The guidelines became effective from March 31, 2019.

    Under solvency requirements, AMF updated capital adequacy guideline for financial services cooperatives and credit unions that are not members of a federation, trust companies, and savings companies. The updated guidelines on sound and prudent management practices and sound commercial practices include the following:

    • Investment Management Guideline, which is intended for insurers of persons (life and health), damage (P&C) insurers, holding companies controlled by an insurer, any federation of mutual insurance associations with respect to its investment fund, financial services cooperatives, trust companies and savings companies governed by certain specific statutes. 
    • Securitization Risk Management Guideline, which is intended for insurers of persons (life and health), damage (P&C) insurers, financial services cooperatives, holding companies controlled by an insurer, trust companies and savings companies governed by certain specific statutes
    • Liquidity Risk Management Guideline, which is intended for insurers of persons (life and health), damage (P&C) insurers, portfolio management companies controlled by an insurer, financial services cooperatives, trust companies and savings companies governed by certain specific statutes

    AMF sets guidelines for various financial institution categories. These guidelines help set standards governing the activities and conduct of these institutions, particularly with regard to solvency (capital adequacy) and sound and prudent management practices.

     

    Effective Date: March 31, 2019

    Keywords: Americas, Canada, Quebec, Banking, Insurance, Solvency Requirements, TLAC, Liquidity Risk, Investment Management, Securitization, Capital Adequacy, AMF

    Featured Experts
    Related Articles
    News

    PRA Consults on Implementation of Certain Provisions of CRD5

    PRA, via the consultation paper CP12/20, proposed changes to its rules, supervisory statements, and statements of policy to implement certain elements of the Capital Requirements Directive (CRD5).

    July 31, 2020 WebPage Regulatory News
    News

    EIOPA Report Identifies Key Financial Stability Risks for Insurers

    EIOPA published the financial stability report that provides detailed quantitative and qualitative assessment of the key risks identified for the insurance and occupational pensions sectors in the European Economic Area.

    July 30, 2020 WebPage Regulatory News
    News

    EBA Publishes Risk Dashboard for First Quarter of 2020

    EBA published its risk dashboard for the first quarter of 2020 together with the results of the risk assessment questionnaire.

    July 30, 2020 WebPage Regulatory News
    News

    EBA Issues Updates on Stress Test Exercise for Banks in EU

    EBA announced that the next stress testing exercise is expected to be launched at the end of January 2021 and its results are to be published at the end of July 2021.

    July 30, 2020 WebPage Regulatory News
    News

    PRA Proposes Guidance Related to Matching Adjustment under Solvency II

    PRA published the consultation paper CP11/20 that sets out its expectations and guidance related to auditors’ work on the matching adjustment under Solvency II.

    July 30, 2020 WebPage Regulatory News
    News

    MAS Issues Guidance on Dividend Distributions by Banks

    MAS published a statement guidance on dividend distribution by banks.

    July 30, 2020 WebPage Regulatory News
    News

    APRA Updates Guidance on Capital Management for Banks

    APRA updated its capital management guidance for banks, particularly easing restrictions around paying dividends as institutions continue to manage the disruption caused by COVID-19 pandemic.

    July 29, 2020 WebPage Regulatory News
    News

    FSB Report Reviews Macro-Prudential Framework and Tools in Germany

    FSB published a report that reviews the progress on data collection for macro-prudential analysis and the availability and use of macro-prudential tools in Germany.

    July 29, 2020 WebPage Regulatory News
    News

    EBA Urges Firms to Finalize Preparations for End of Brexit Transition

    EBA issued a statement reminding financial institutions that the transition period between EU and UK will expire on December 31, 2020; this will end the possibility for the UK-based financial institutions to offer financial services to EU customers on a cross-border basis via passporting.

    July 29, 2020 WebPage Regulatory News
    News

    SRB on Operational Continuity in Resolution and FMI Contingency Plans

    SRB published guidance on operational continuity in resolution and financial market infrastructure (FMI) contingency plans.

    July 29, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5606