Financial Institutions

Industry Correspondence

Use the following links to access the appropriate section:

• Financial Institutions
• Credit Unions
• Trust Companies
• Insurance

Financial Institutions
Number		Subject
* Letters that reference guidelines will be on the guidelines page.
02/24/2018		Letter to CEOs/General Managers, BC Authorized Financial Institutions Amendments to Monthly Reporting Requirements under Canada's Sanctions Regime
02/02/2018		Letter to B.C. Authorized Financial Institutions Executive Appointment - Deputy Superintendent, Prudential Supervision
02/02/2018		Letter to CEOs/General Managers, B.C. Authorized Financial Institutions Information Bulletin FI-18-001: Timelines for Statutory Approval Applications
01/25/2017		Letter to Board Chairs/CEOs/General Managers, B.C. 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

Credit Unions
Number		Subject
* Letters that reference guidelines will be on the guidelines page.
07/22/2020		Letter to CEOs/General Managers, BC Authorized Credit Unions 2020 CUDIC Base Assessment Rate
07/22/2020		Letter to CFOs, BC Authorized Credit Unions 2020 Scoring Range Update to the Risk-Based Premium Assessment Methodology
04/16/2020		Letter to CFOs, BC Credit Unions COVID-19 - Capital Treatment of Loans under the Business Credit Availability Program
04/02/2020		Letter to CEOs/General Managers, BC Authorized Credit Unions COVID-19 - Loan Payment Deferral
03/23/2020		Letter to CEOs/General Managers, BC Authorized Credit Unions BCFSA COVID-19 Easing Measures
03/13/2020		Letter to CEOs/General Managers, BC Authorized Credit Unions Annual General Meetings and the COVID-19
02/18/2020		Letter to CEOs/General Managers, BC Authorized Credit Unions 2020 Asset Groups
08/01/2019		Letter to CEOs/General Managers, BC Authorized Credit Unions CUDIC Data Requirements for Deposit Insurance Determination Version 2.0
07/11/2019		Letter to CEOs/General Managers, BC Authorized Credit Unions 2019 Deposit Insurance Base Assessment Rate
07/04/2019		Letter to CEOs/General Managers, BC Authorized Credit Unions Working Group Report on Risk Data Aggregation and Reporting Principles
06/21/2019		Letter to CEOs/General Managers, BC Authorized Credit Unions 2019 Asset Groups
06/10/2019		Letter to CEOs/General Managers, BC Authorized Credit Unions Credit Unions - Fee Consultation
01/18/2019		Letter to CEOs/General Managers, BC Authorized Credit Unions Deadline Extension for the CUDIC Premium Structure Consultation
12/10/2018		Letter to CEOs/General Managers, B.C. Authorized Credit Unions Deposit Composition Data Call 2018 Q2
09/14/2018		Letter to Board Chairs and CEOs / GM of BC Credit Unions Draft Liquidity Management Guideline for Comment
07/26/2018		Letter to CFOs/Finance Managers, B.C. Authorized Credit Unions Capital Adequacy Return - 2018 Revision
06/19/2018		Letter to CEOs/General Managers, B.C. Credut Unions 2018 Asset Groups
05/28/2018		Letter to CEOs/General Managers, BC Authorized Credit Unions Credit Union Financial & Statistical Return - 2018 Implementation Timeline
05/03/2018		Letter to Board Chairs/CEOs/General Managers, BC Authorized Credit Unions Notification of Changes to the 2018 Deposit Insurance Assessments and an Update Regarding the Proposed Revised Risk Based Premium Assessment Methodology
04/20/2018		Letter to CEOs/General Managers, BC Authorized Credit Unions Information Bulletin CU-18-001: Consent to Credit Union Amalgamation: Application Requirements Information Bulletin CU-18-002: Consent to Credit Union Acquisition: Application Requirements
03/05/2018		Letter to CFOs/Finance Managers, BC Authorized Credit Unions Clarification - Capital Adequacy Return Completion Guide
03/01/2018		Letter to Board Chairs/CEOs/General Managers of British Columbia Credit Unions Administration of Master Bond Program (MBP)
01/24/2018		Letter to CFOs/Finance Managers, BC Credit Unions Revised Financial & Statistical Return - Final
01/16/2018		Letter to Board Chairs/CEOs/General Managers, BC Authorized Credit Unions Consultation on Risk-Based Premium Assessment Methodology
11/20/2017		Letter to Board Chairs/CEOs/General Managers, BC Authorized Credit Unions Working Group Report on Risk-Based Premium Assessment Methodology-Date Extension for Comments
10/30/2017		Letter to CEOs / General Managers, BC Authorized Credit Unions Working Group Report on Risk-Based Premium Assessment Methodology
10/30/2017		Letter to CEOs / General Managers, BC Authorized Credit Unions in Asset Groups 1 and 2 Invitation to Discuss Recent Changes to Federal Residential Mortgage Underwriting Standards
10/30/2017		Letter to CEOs / General Managers, BC Authorized Credit Unions in Asset Groups 3-6 Invitation to Discuss Recent Changes to Federal Residential Mortgage Underwriting Standards
10/24/2017		Letter to All CEOs/General Managers of British Columbia Authorized Credit Unions Second IFRS 9 Readiness Self-Assessment Follow Up
10/10/2017		Letter to All CEOs/General Managers of British Columbia Authorized Credit Unions Credit Union Financial & Statistical Return - 2017 Revision Implementation Date Deferral
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

Trust Companies
Number		Subject
* Letters that reference guidelines will be on the guidelines page.
04/08/2020		Letter to BC Incorporated Trust Companies COVID-19 - Regulatory Filing Extension
02/10/2020		Letter to BC Incorporated Trust Companies Updated Filing Requirements Information Bulletin
06/10/2019		Letter to CEOs/General Managers, BC Authorized Trust Companies Trust Companies - Fee Consultation
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

Insurance Companies
Number		Subject
* Letters that reference guidelines will be on the guidelines page.
04/30/2020		Letter to BC Incorporated Insurance Companies COVID-19 - Temporary Changes to Capital Requirements
04/08/2020		Letter to BC Incorporated Insurance Companies COVID-19 - Regulatory Filing Extension
02/10/2020		Letter to BC Incorporated Life Insurance Companies and fraternal Benefit Societies Updated Filing Requirements Information Bulletin
02/10/2020		Letter to BC Incorporated Property and Casualty Insurance Companies Updated Filing Requirements Information Bulletin
07/02/2019		Letter to BC Incorporated Property and Casualty Insurance Companies/Reciprocal Insurance Exchanges 2019 Annual Update to the Manual of Financial Reporting Forms and Instructions for Property/Casualty Insurance Companies
07/02/2019		Letter to BC Incorporated Life Insurance Companies and Fraternal Benefit Societies 2019 Annual Update to the Manual of Financial Reporting Forms and Instructions for Life Insurance Companies/Fraternal Benefit Societies
11/22/2018		Letter to BC Authorized Property & Casualty Insurance Companies Changes to Filing Requirements
11/22/2018		Letter to BC Authorized Life Insurance Companies and Fraternal Benefit Societies Changes to Filing Requirements
11/22/2018		Letter to BC Incorporated Property and Casualty Insurance Companies Information Bulletin INS-18-010
11/22/2018		Letter to BC Incorporated Life Insurance Companies and Fraternal Benefit Societies Information Bulletin INS-18-009
10/26/2018		Letter to BC Incorporated Property and Casualty Insurance Companies/Reciprocal Insurance Exchanges 2018 Annual Update to the Manual of Financial Reporting Forms and Instructions for Property/Casualty Insurance Companies
10/26/2018		Letter to BC Incorporated Life Insurance Companies and Fraternal Benefit Societies 2018 Annual Update to the Manual of Financial Reporting Forms and Instructions for Life Insurance Companies/Fraternal Benefit Societies
06/19/2018		Letter to CEOs/General Managers, BC Incorporated Insurers Adoption of OSFI's 2018 Advisory on IFRS 17 Transition and Progress Report Requirements
12/22/2017		Letter to BC Life Insurance Companies and Insurance Societies Information Bulletin INS 17-001
09/26/2017		Letter to B.C. Incorporated P&C Insurers, and Reciprocal Insurance Exchanges Adoption of OSFI’s 2017 changes to the Memorandum to the Appointed Actuary’s Report on Property and Casualty Insurance Busines
09/26/2017		Letter to British Columbia Life Insurance Companies and Fraternal Benefit Societies Adoption of OSFI’s 2017 changes to the Memorandum to the Appointed Actuary on Life Insurance Companies
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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