The British Columbia Financial Services Authority (BCFSA) has opened a 60-day public consultation on a proposed Capital Rule for B.C. credit unions as part of its multi-year Capital Modernization Project to update the provincial capital framework in line with international standards and best practices. The proposal is intended to ensure regulatory capital better reflects underlying risks and to increase both the quality and quantity of capital credit unions must hold, while incorporating modifications to reflect the characteristics of B.C. credit unions. The consultation runs until 15 December 2025, with BCFSA anticipating the rule will take effect on 1 January 2027 and the new regime will be fully implemented by 1 January 2029.
British Columbia Financial Services Authority 2025-10-16
British Columbia Financial Services Authority launches consultation on a new capital rule for B.C. credit unions
The British Columbia Financial Services Authority has launched a 60-day public consultation on a proposed Capital Rule for B.C. credit unions, part of its Capital Modernization Project. The proposal aims to align the provincial capital framework with international standards, enhancing the quality and quantity of regulatory capital to better reflect underlying risks.