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BCFSA Launches Consultation on Capital Rule for B.C. Credit Unions
Rule is Part of a Multi-year Project to Reflect International Standards
Vancouver, October 16, 2025
BCFSA has launched a 60-day public consultation with B.C. credit unions and other interested parties on its Capital Rule (the Rule) as part of its multi-year Capital Modernization Project (Project). The consultation will close on Dec. 15, 2025.
The Project aims to strengthen the capital framework of B.C.’s credit unions by:
- ensuring that regulatory capital reflects underlying risks; and
- raising the quality and quantity of regulatory capital that credit unions are required to maintain.
The Rule that BCFSA is proposing reflects developments in international standards and best practices, with modifications to reflect the characteristics of the B.C. credit unions.
We anticipate the new Rule will come into effect on Jan. 1, 2027, with the full implementation of the new regime set for Jan. 1, 2029. The Project aligns with BCFSA’s mandate to maintain confidence in the financial services sector by focusing on the safety and resiliency of credit unions—the goal being a strong credit union system that safeguards members and market participants from unnecessary risks.
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About BCFSA
B.C. Financial Services Authority is the province’s regulator for the financial services sector that helps to protect British Columbians during some of the most important financial decisions of their lives. As a Crown agency of the Government of British Columbia, BCFSA oversees credit unions, trust companies, insurance companies, pension plans, mortgage services, real estate services, and real estate development marketing. BCFSA also administers the Credit Union Deposit Insurance Corporation of British Columbia (CUDIC). BCFSA’s mission is to instill confidence in the financial services sector by focusing on the safety and soundness of regulated entities and consumer protection through effective market conduct monitoring.
Media Contact:
Lindsey Norris
Communications Manager, media@bcfsa.ca.
Visit: www.bcfsa.ca
