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Consultation on Loan Data Reporting Requirements
Tags for 'Consultation on Loan Data Reporting Requirements '
Closed
Launched: 9 November 2023
Closed: 31 December 2024
BCFSA has concluded its consultation on its proposed Loan Data Reporting (“LDR”) requirements for B.C.’s credit unions. The requirements include reporting on granular loans and leases data of credit unions’ personal and commercial loan and lease portfolios.
Regular reporting of the LDR provides a more comprehensive picture of a credit union’s lending operations. It enables BCFSA to monitor and identify possible vulnerabilities and emerging risks in credit unions’ loan and lease portfolios; and helps credit unions to collect, maintain, and report appropriate data and that its quality supports their risk management and reporting best practices.
The consultation is now closed. BCFSA thanks everyone who participated in the consultation. The feedback received during the consultation has provided valuable input to finalize the LDR requirements. The LDR Consultation Summary Report was released on July 15, 2025.
BCFSA held an information session for B.C. credit unions on July 29, 2025.
Stage 2: Technical Working Group (Completed)
September 19 — December 31, 2024
In the second stage of the consultation, BCFSA held seven technical working group sessions to discuss challenges and barriers to the proposed requirements, initial consultation feedback, and implementation timeline (including phased-in options).
Terms of Reference for BCFSA Technical Working Group on Loan Data Reporting Requirements
- Beem Credit Union
- Central 1 Credit Union
- Coastal Community Credit Union
- Greater Vancouver Community Credit Union
- Kootenay Savings Credit Union
- Lake View Credit Union
- Northern Savings Credit Union
- Prospera Credit Union
- Summerland & District Credit Union
- Sunshine Coast Credit Union
- Vancouver City Savings Credit Union
- Williams Lake and District Credit Union
Stage 1: Written Feedback (Completed)
November 9, 2023 – March 18, 2024
In the first stage of the consultation, BCFSA sought written feedback on its Draft LDR Requirements by March 18, 2024. BCFSA held an information session for B.C. credit unions on November 28, 2023.