Financial Institutions

Industry Correspondence

Use the following links to access the appropriate section:

Financial Institutions
Release Date   Subject
* Letters that reference guidelines will be on the guidelines page.
01/25/2017 Letter to Board Chairs/CEOs/General Managers, British Columbia Credit Unions
Update on the Proposed CUDIC Risk Based Premium Assessment Methodology
05/05/2016 Letter to All Provincially Regulated Financial Institutions
Anti-money Laundering/Anti-terrorist Financing
03/11/2014 Open Letter
RE: Structure of Creditor's Group Insurance Offered in British Columbia
12/19/2013 Letter to All CEOs / General Managers / Chief Agents of B.C. Authorized Financial Institutions (Credit Unions, Trust Companies, P&C and Life Insurers)
Administrative Penalties
01/28/2013 Open Letter
Financial Institutions Division: Communicating FICOM Guidance
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Credit Unions
Release Date   Subject
* Letters that reference guidelines will be on the guidelines page.
06/05/2017 Letter to All CFOs/Finance Managers of British Columbia Authorized Credit Unions
Second IFRS 9 Readiness Self-Assessment
06/05/2017 Letter to All CEOs/General Managers of British Columbia Credit Unions
Residential Mortgage Loans Report Completion Guide
06/01/2017 Letter to All B.C. Credit Union CEOs/General Managers
2017 Asset Groupings
05/17/2017 Letter to CFO's and Finance Managers of B.C. Authorized Credit Unions
Financial and Statistical Return - 2017 Revision Issued for Consultation
01/11/2017 Letter to Board Chairs and CEOs of BC credit unions
Financial Institutions Commission's Regulation of Central 1 Credit Union
10/17/2016 Open Letter to All B.C. Credit Unions
RE: Federal Continuance
09/12/2016 Letter to All CEOs and General Managers of B.C. Credit Unions
IFRS 9 Readiness Self-Assessment Follow Up
08/15/2016 Letter to All B.C. Credit Union CEOs/General Managers
Use of Deposit Agents
07/20/2016 Letter to B.C. Authorized Credit Unions
Residential Mortgage Underwriting Practices at B.C. Credit Unions
06/01/2016 Letter to All B.C. Credit Union CEOs/General Managers
2016 Asset Groupings
04/12/2016 Letter to All B.C. Credit Union CEOs/General Managers
IFRS 9 Readiness Self-Assessment
03/16/2016 Letter to Central 1 Class A Members
Internal Capital Adequacy Assessment Process (ICAAP) Standards for Central 1 Credit Union (Central 1)
02/01/2016 Letter to All B.C. Credit Union CEOs/General Managers
CUPSA Information Technology (IT) Audit Guidance
11/02/2015 Letter to All B.C. Credit Union CEOs/General Managers
No Early Adoption of IFRS 9
05/21/2015 Letter to All B.C. Credit Union CEOs/General Managers
2015 Asset Groupings
03/06/2015 Letter to B.C. Credit Unions
Research Report on Residential Mortgage Default Probability
02/27/2015 Letter to B.C. Credit Union Board Chairs, CEOs
Results of the Credit Union Continuance Working Group
06/12/2014 Letter to B.C. Credit Unions
Capital Adequacy Return - New Filing Requirement
09/27/2013 Letter to B.C. Credit Unions
Capital Adequacy Return - New Filing Requirement
08/29/2013 Letter to Board Chairs and CEO's
Communicating Governance Guideline
04/18/2013 Letter to CEO's
Communicating Assessment Criteria
03/06/2013 Letter to Board Chairs and CEO's
Internal Capital Target Guideline - Final
02/12/2013 Letter to Board Chairs
Guide to Intervention
02/01/2013 Letter to Board Chairs
Corporate Governance Compliance Undertaking Submissions
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Trust Companies
Number   Subject
* Letters that reference guidelines will be on the guidelines page.
04/05/2017 Letter to British Columbia Incorporated Insurers and Trust Companies
Adoption of Guideline: IFRS 9 Financial Instruments and Disclosures
11/12/2015 Letter to All Presidents/CEOs of Extraprovincial Trust Companies
Change in Filing Requirements
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Insurance Companies
Release Date   Subject
* Letters that reference guidelines will be on the guidelines page.
08/14/2017 Letter to British Columbia Incorporated Life Insurance Companies and Fraternal Benefit Societies
Annual Update to the Manual of Financial Reporting Forms and Instructions
08/04/2017 Letter to B.C. Incorporated P&C Insurers, and Reciprocal Insurance Exchanges
Annual Update to the Manual of Financial Reporting Forms and Instructions
04/05/2017 Letter to British Columbia Incorporated Life Insurers
Adoption of OSFI’s 2017 Advisory on Deferral of IFRS 9 Application
04/05/2017 Letter to British Columbia Incorporated Insurers and Trust Companies
Adoption of Guideline: IFRS 9 Financial Instruments and Disclosures
09/22/2016 Letter to B.C. Life Insurance Companies and Fraternal Benefit Societies
Adoption of OSFI's 2016 changes to the Memorandum to the Appointed Actuary (Life Insurance)
09/22/2016 Letter to B.C. Authorized P&C Insurance Companies and Reciprocal Exchanges
Adoption of OSFI's 2016 changes to the Memorandum to the Appointed Actuary's Report on Property and Casualty Insurance Business
08/11/2016 Letter to B.C. Authorized P&C Insurers, and Reciprocal Insurance Exchanges
Annual Update to the Manual of Financial Reporting Forms and Instructions
07/27/2016 Letter to B.C. Life Insurance Companies and Fraternal Benefit Societies
Annual Update to the Manual of Financial Reporting Forms and Instructions
07/04/2016 Letter to B.C. Authorized P&C Insurance Companies
Change in Filing Requirements
07/04/2016 Letter to B.C. Authorized Life Insurance Companies and Fraternal Benefits Societies
Change in Filing Requirements
01/14/2016 Advisory Letter to All Insurers Authorized to Write Home Warranty Class of Insurance
Regading Home Warranty Insurance
09/28/2015 Letter to B.C. Authorized P&C Insurers, and Reciprocal Insurance Exchanges
Annual Update to the Manual of Financial Reporting Forms and Instructions
09/28/2015 Letter to B.C. Life Insurance Companies and Fraternal Benefits Societies
Annual Update to the Manual of Financial Reporting Forms and Instructions

09/15/2015 Letter to All Insurers Authorized to Write Life and/or Accident & Sickness Insurance in B.C.
Regarding Information Bulletin INS-15-002 Creditor's Group Insurance
Updated letter sent January 2016 regarding INS-15-002
Creditor's Group Insurance
07/06/2015 Letter to All Authorized Life and/or Accident and Sickness Insurers
Amendment to Insurance Regulation, B.C. Reg. 403/2012
Appendix: Amendment to Insurance Regulation, B.C. Reg. 403/2012
03/17/2015 Earthquake Exposure Filing Reminder
02/16/2015 Changes to the Board and Senior Management
09/25/2014 2014 Annual Update to the Manual of Financial Reporting Forms and Instructions for Authorized Property and Casualty Insurance Companies
09/25/2014 2014 Annual Update to the Manual of Financial Reporting Forms and Instructions for B.C. Life Insurance Companies and Fraternal Benefit Societies
04/07/2014 Creditor's Group Insurance Questionnaire
09/27/2013 Letter to B.C. Life Insurance Companies and Fraternal Benefit Societies
Annual Update to the Manual of Financial Reporting Forms and Instructions
09/27/2013 Letter to B.C. Authorized Property and Casualty Insurers
Annual Update to the Manual of Financial Reporting Forms and Instructions for Insurance Companies
06/13/2013 Letter to CEO's, All Authorized Life Insurers
Use of Managing General Agents
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