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Residential Mortgage Insurance Underwriting Practices and Procedures – Guideline (2019)
… insurance underwriting policies, practices, and risk management. This Guideline sets out the Office of the … for increased risk. Incentive and rebate payments (i.e., “cash back”) should not be considered part of the down payment … referrer Footnote 12 Incentive and rebate payments (i.e., “cash back”) may be considered as part of the down payment in …
Business and Powers – Ownership Interests in Commodities
… inventory financing, guarantee, letter of credit or risk management service). Duration of ownership: The FRFI should … area within the FRFI; and (ii) reports provided to senior management related to commodity activities distinguish … from other transactions that involve commodities (e.g., cash settled commodity derivatives). Conduct a level of due …
Business and Powers – Information respecting a customer
… agent, broker or insurance policy by a DTI; and limit the flow of information from a DTI to an insurance company, agent … an interpretation issue specifically with regard to the flow of information between a DTI and an insurance company, …
Frequently asked questions – Basel III reforms
… event was due to the lack of effective operational risk management policies, practices or controls within the … Procedures B-20. Deposits from future purchasers and/or cash equity from the builder injected into the construction …
Foreign Bank Branch Deposit Requirement
… and must be accompanied by a signed statement by branch management of the FBB that the withdrawal would not cause the … PRE-APPROVED ASSETS PAYABLE IN CANADIAN DOLLARS Cash Securities issued or guaranteed by: Government of Canada … Deposit Qualifying Assets Pre-approved asset classes Cash Securities issued or guaranteed by Canada Securities …
Guide for Continuing a Body Corporate as a Bank or a Federally Regulated Trust or Loan Company
… financial support; and a description of the proposed management team. For the purpose of this Guide, any reference … Requirements (LAR) Guideline, including the Net Cumulative Cash Flow and Liquidity Coverage Ratio, for each year of the …
OSFI Annual report 2023-2024
… delay monitor and evaluate risks and promote sound risk management by institutions and pension plans Our mandate sets … of operations, changes in net financial assets and cash flow for the year then ended, and notes to the financial …
Guide for Incorporating Banks and Federally Regulated Trust and Loan Companies
… support; Footnote 8 and a description of the proposed management team. The initial discussion also provides an … including on-going reporting on the Net Cumulative Cash Flow and Liquidity Coverage Ratio; Footnote 12 the risk-based …
Asset Securitization by Foreign Bank Branches
… FBB and the vehicle must be approved by the FBB's branch management to ensure that such transactions are at least at … the obligor; and not provide temporary finance to cover cash shortfalls arising from non-performance of loans it … it will bring its concerns to the attention of branch management who should take appropriate action to correct the …
Expert Opinions and Report - Canadian Company Demutualizations
… policyholders, including those who elect to receive cash in lieu of shares, and must also clearly opine that … the opinion should state that such other benefits (i.e. cash, policy enhancements) will have a monetary value equal …
OSFI Annual report 2022-2023
… statement to support our strategic and operational management. We also started work to renew our approach to … of operations, changes in net financial assets and cash flow for the year then ended, and notes to the financial …
Prudent Person Approach
… in regards to operational, business, risk and crisis management policies. Procedures Financial institutions are … investments in different types of instruments, including cash, equities, bonds and debentures, and real property. The …
IFRS 17 Life Memorandum to the Appointed Actuary - 2023
… to OSFI’s actuaries. It is also intended for entity management and is read by regulators who may not be actuaries … in the past year. B.3.2 Construction of Discount Rates for Cash Flows that Do Not Vary with Underlying Items The AAR … discuss the determination of the probability weighted cash flow distribution, including how this complies with the IFRS …
Internal audit performance results
… Internal Auditor (CIA), Chartered Professional Accountant (CPA)) 89% of staff hold an internal audit or accounting … approved date Report published date Original planned Management Action Plan (MAP) completion date Management Action Plan (MAP) implementation status (%) Audit …
IFRS 17 Property and Casualty Memorandum to the Appointed Actuary - 2023
… to OSFI’s actuaries. It is also intended for entity management and is read by regulators who may not be actuaries … of Contracts Portfolio Reporting Estimates of Future Cash Flows Discount Curve Risk Adjustment for Non-financial … in the estimation of future cash flows that do not flow through ALAE and ULAE. The commentary should discuss the …