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"Point in Time" Regulation Content

Financial Institutions Act

Capital Requirements Regulation

B.C. Reg. 315/90

NOTE: Links below go to reg content as it was prior to the changes made on the effective date. (PIT covers changes made from September 19, 2009 to present)
SECTIONEFFECTIVE DATE
Section 4 March 12, 2018
Section 8.1 March 12, 2018
Section 15 September 21, 2017

 Section 4 (1) BEFORE amended by BC Reg 40/2018, effective March 12, 2018.

(1) In subsection (3), "indebtedness" of a financial institution means indebtedness that is both

(a) wholly unsecured against any specific property of the financial institution, and

(b) subordinated, in right of payment in the event of insolvency or winding up of the financial institution, to all of its indebtedness of any other type

and includes an equity interest in the financial institution, other than an equity interest represented by shares described in section (3) (a) or (b).

 Section 8.1 BEFORE re-enacted by BC Reg 40/2018, effective March 12, 2018.

Capital base adequacy — life insurance companies

8.1   The amount that under section 67 (1) of the Act constitutes a minimum adequate capital base of an insurance company that is authorized to carry on life insurance business is 120% of the minimum adequate capital base amount determined in accordance with the Minimum Continuing Capital and Surplus Requirements for Life Insurance Companies (MCCSR) guidelines as established and published, and amended from time to time, by the Superintendent of Financial Institutions Canada.

[en. B.C. Reg. 565/2004, s. 4.]

 Section 15 (3) BEFORE amended by BC Reg 173/2017, effective September 21, 2017.

(3) Where the unweighted aggregate value of a credit union's commercial loans and commercial leases exceeds 30% of the aggregate value of its unweighted assets, an additional weighting factor of 1.0 shall be applied to the proportion of value exceeding 30%.