Credit Unions

Regulatory Filings

Pursuant to the Financial Institutions Act (FIA) and Section 20 of the Capital Requirements Regulation, a credit union is required to file electronically the following items with BCFSA by the specified deadline.

The filings and returns listed below are subject to Non-Compliant Filings Administrative Penalty.


Name of Filing or Return FIA Section Number of Days to
File/Due Dates
Monthly    
Monthly Financial and Statistical Return(MFSR)
Completion Guide
Change Control Log
Template (macro enabled Excel)

FIA s.127(3) Within 20 days of month end
Liquidity Coverage Ratio (LCR)
Reporting Guide
Template (macro enabled Excel)

FIA s.127(3) Within 30 days days of month end
(applicable to credit unions with more than $1 billion in assets)
Quarterly    
Quarterly Financial and Statistical Return (QFSR)

QFSR has been combined with MFSR template

FIA s.127(3)  Within 20 days of quarter end
Residential Mortgage Loans Report (RMLR)
Completion Guide
Change Control Log
Template (macro enabled Excel)

FIA s.127(3)  Within 30 days of quarter end
Net Cumulative Cash Flow (NCCF)
Reporting Guide
Template (macro enabled Excel)

FIA s.127(3)  Within 30 days of quarter end
(applicable to credit unions with more than $1 billion in assets)
Liquidity Coverage Ratio (LCR)
Reporting Guide
Template (macro enabled Excel)

FIA s.127(3) Within 30 days of quarter end
(applicable to credit unions up to $1 billion in assets)
Annual    
Annual Financial and Statistical Return (AFSR)

AFSR is the same as MFSR except the information reported are based on year-end non-consolidated financial statements
FIA s.127(1) Within 90 days of Credit Union's financial year end
Consolidated and Comparative Audited Financial Statements FIA s.127(1)

Within 90 days of Credit Union's financial year end

Unconsolidated and Comparative Audited Financial Statements for the Credit Union and each Subsidiary

FIA s.127(1) Within 90 days of Credit Union's financial year end
Copy of Resolution of Directors Approving the Year-End Filings

FIA s.127(1) Within 90 days of Credit Union's financial year end
Capital Adequacy Return
Completion Guide
Change Control Log
Template (macro enabled Excel)

FIA s.127(1) Within 90 days of Credit Union's financial year end
BCFSA ICAAP
BCFSA ICAAP Guide
BCFSA ICAAP Submission Instructions
BCFSA ICAAP Key Metrics Report

FIA s.127(3) Within 120 days of Credit Union's financial year end
(applicable to credit unions in Asset Groups 1, 2, and 3)
Other    
Investment Lending Policy (ILP) Amendment

FIA s.127(2) Within 5 days from BOD approval
Personal Information Return (PIR) for Senior Officers and Directors FIA s.105 Prior to senior officer or director commencing duties

There are other filings and returns that are subject to penalties in the Administrative Penalties Regulation (APR).

The APR sets out which provisions of the FIA are subject to penalty, who can be liable for a penalty, and the maximum amount that can be ordered. Please refer to the Administrative Penalties Regulation for more information.



Consultation    

October 14, 2020

BCFSA has issued for comment revised draft credit union regulatory reporting templates and instructions. BC credit unions are invited to submit their feedback on the proposed changes by December 14, 2020. Comments should be sent to filings@bcfsa.ca.
Revised draft reporting templates and instructions issued for consultation:

Draft Financial and Statistical Return (FSR)
FSR Reporting Instructions
FSR template

   
Draft Capital Adequacy Return (CA Return)
CA Return Reporting Instructions
CA Return template

   
Draft Liquidity Adequacy Return (LA Return) - New template
LA Return Reporting Instructions
LA Return template

   
Draft Liquidity Coverage Ratio (LCR)
LCR Reporting Instructions
LCR template

   
Draft Net Cumulative Cash Flow (NCCF)
NCCF Reporting Instructions
NCCF template

   
Draft Residential Mortgage Loans Report (RMLR)
RMLR Reporting Instructions
RMLR template