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

    APRA Revises Related Entities Standard for Banks

    APRA published a strengthened prudential standard APS 222 on associations with related entities, with the aim to mitigate contagion risk within banking groups.

    August 20, 2019 WebPage Regulatory News
    News

    FSB on Responses to Consultation on Wind-Down of Trading Portfolios

    FSB published responses received to the consultation on the solvent wind-down of the derivatives and trading book portfolio of a global systemically important bank (G-SIB).

    August 19, 2019 WebPage Regulatory News
    News

    FSB Publishes Responses to Consultation on Resolvability Disclosures

    FSB published responses received to the consultation on disclosures for resolution planning and resolvability of banks.

    August 19, 2019 WebPage Regulatory News
    News

    HKMA Revises Implementation Schedule for Initial Margin Rules

    HKMA intends to adopt a revised implementation schedule for the margin requirements for non-centrally cleared derivatives.

    August 16, 2019 WebPage Regulatory News
    News

    HKMA Revises Guideline on Application of Banking Disclosure Rules

    HKMA issued a revised version of the Supervisory Policy Manual module CA-D-1 on guideline on the application of the Banking (Disclosure) Rules (BDR).

    August 16, 2019 WebPage Regulatory News
    News

    ECB Decision on Recognizing Reporting Member States Under AnaCredit

    ECB has finalized the Decision 2019/1348 (ECB/2019/20) that establishes procedure for recognizing non-euro area member states as reporting member states under the AnaCredit Regulation (EU 2016/867).

    August 16, 2019 WebPage Regulatory News
    News

    FASB Proposes to Extend CECL Standard Deadline for Certain Entities

    FASB proposed an Accounting Standards Update that would grant private companies, not-for-profit organizations, and certain small public companies additional time to implement FASB standards on current expected credit losses (CECL), leases, and hedging.

    August 15, 2019 WebPage Regulatory News
    News

    IASB Adds Phase Two of IBOR Reform to Its Work Plan

    IASB (or the Board) has added the second phase of its project focused on potential financial reporting implications linked to the interest rate benchmark reform—interbank offer rate (IBOR) reform—to its work plan.

    August 15, 2019 WebPage Regulatory News
    News

    FED Updates Draft Instructions for Proposed FR Y-14 Reporting Forms

    FED updated draft instructions for the monthly, quarterly, and annual capital assessments and stress testing reports, also known as forms FR Y-14M, FR Y-14Q, FR Y-14A, respectively.

    August 15, 2019 WebPage Regulatory News
    News

    FASB Proposes Taxonomy Changes Related to Topics 326, 815, and 842

    FASB is proposing taxonomy improvements for the proposed Accounting Standards Update on clarifying the interactions among topic 321 on investments in equity securities), topic 323 on investments under equity method and joint ventures), and topic 815 on derivatives and hedging.

    August 15, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 3665