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

    HKMA Publishes Hong Kong Taxonomy for Sustainable Finance

    The Hong Kong Monetary Authority (HKMA) published the Hong Kong Taxonomy for Sustainable Finance.

    May 21, 2024 WebPage Regulatory News
    News

    EU Taking Steps to Set Out and Enforce AI Regulations

    Many believe that the transformative power of generative artificial intelligence (GenAI) has potential to reshape the financial sector in the time to come.

    May 21, 2024 WebPage Regulatory News
    News

    ISSB Releases Digital Sustainability Disclosures Taxonomy

    The themes of the harmonization and interoperability of sustainability disclosure standards among various jurisdictions remain at the top-of-mind for international standard-setting bodies.

    May 21, 2024 WebPage Regulatory News
    News

    BCBS Report Studies Implications of Digitalization of Finance

    The Basel Committee on Banking Supervision (BCBS) published a report that examines the implications of the digitalization of finance for banks and supervisors.

    May 21, 2024 WebPage Regulatory News
    News

    BCBS Consults on Guidelines for Counterparty Credit Risk Management

    The Basel Committee on Banking Supervision (BCBS) is seeking comments, until August 28, 2024, on guidelines for counterparty credit risk management of banks.

    May 21, 2024 WebPage Regulatory News
    News

    BIS Paper Outlines Vision for Future Financial System

    In a recent paper, the General Manager of Bank for International Settlements (BIS) and the Indian entrepreneur (Infosys co-founder) Nandan Nilekani have laid out a vision for the Finternet, which is proposed to be a network of multiple financial ecosystems, much like the internet.

    April 29, 2024 WebPage Regulatory News
    News

    NGFS Outlines Options for Supervisory Review of Transition Plans

    The Network for Greening the Financial System (NGFS) recently published three reports on the use of transition plans to boost sustainable finance and manage climate-related financial risks.

    April 29, 2024 WebPage Regulatory News
    News

    BCBS Issues Discussion Paper on Climate Scenario Analysis

    The Basel Committee on Banking Supervision (BCBS) issued a discussion paper on the use of climate scenario analysis to strengthen the management and supervision of climate-related financial risks.

    April 29, 2024 WebPage Regulatory News
    News

    OSFI Issues Phase2 Consultation on Climate Scenario Exercise for Banks

    The Office of the Superintendent of Financial Institutions (OSFI) recently announced a consultation on the second phase of the Standardized Climate Scenario Exercise (SCSE) for banks and other financial institutions it regulates in Canada.

    April 25, 2024 WebPage Regulatory News
    News

    CFIT to Chair Open Finance Taskforce Announced by UK Government

    The UK government announced the formation of an industry-led Open Finance Taskforce, chaired by the Center for Finance, Innovation, and Technology (CFIT).

    April 25, 2024 WebPage Regulatory News
    RESULTS 1 - 10 OF 8967