Banks

Banking District

CRSTL provides Legislative Compliance Management (LCM) solutions that help banks of all Schedules comply with the laws, regulations and guidelines that govern their businesses in Canada. Our solutions include the requirements under the Bank Act and corresponding regulations, and the guidelines, advisories and bulletins issued by the Office of the Superintendent of Financial Institutions ("OSFI").

All banks modules include:

Legislation
  • Bank Act and Regulations
  • Financial Consumer Agency of Canada Act and Regulations
  • Office of the Superintendent of Financial Institutions Act and Regulations
Guidelines
  • OSFI Guideline B-2 - Large Exposure Limits
  • OSFI Guideline B-4 - Securities Lending
  • OSFI Guideline B-7 - Derivatives Best Practices
  • OSFI Guideline B-10 - Outsourcing of Business Activities, Functions and Processes
  • OSFI Guideline C-1 - Impairment - Sound Credit Risk Assessment and Valuation of Financial Instruments at Amortized Cost
  • OSFI Guideline C-5 - Collective Allowances - Sound Credit Risk Assessment and Valuation of Financial Instruments at Amortized Cost
  • OSFI Guideline D-1 - Annual Disclosures
  • OSFI Guideline D-6 - Derivatives Disclosure
  • OSFI Guideline D-10 - Accounting for Financial Instruments Designated as Fair Value Option
  • Corporate Governance Guideline
  • OSFI Guideline E-13 - Legislative Compliance Management (LCM) Guideline
  • OSFI Guideline E-17 - Background Checks on Directors and Senior Management of FREs

Schedule I

Schedule I banks are authorized under the Bank Act to accept deposits. Unlike Schedule II banks, which are foreign bank subsidiaries controlled by eligible foreign institutions, Schedule I banks are domestically owned. Schedule I banks are eligible for deposit insurance provided by the Canadian Deposit Insurance Corporation ("CDIC").

In addition to the legislation and guidance included for all banks, our databases for Schedule I banks include:

Legislation
  • Canada Deposit Insurance Corporation Act and Regulations
Guidelines
  • OSFI Guideline B-1 - Prudent Person Approach
  • OSFI Guideline A - Capital Adequacy Requirements (CAR) - Simpler Approaches
  • OSFI Guideline A-1 - Capital Adequacy Requirements (CAR)
  • OSFI Guideline B-6 - Liquidity
  • OSFI Guideline B-11 - Pledging
  • OSFI Guideline E-6 - Materiality Criteria for Related Party Transactions
  • OSFI Guideline E-18 - Stress Testing
  • OSFI Guideline E-19 - Internal Capital Adequacy Assessment Process (ICAAP)

Schedule II

Schedule II banks are foreign bank subsidiaries authorized under the Bank Act to accept deposits. Unlike Schedule I banks, which are domestically owned, Schedule II banks are foreign bank subsidiaries controlled by eligible foreign institutions. Schedule II banks are eligible for deposit insurance provided by the Canadian Deposit Insurance Corporation ("CDIC").

In addition to the legislation and guidance included for all banks, our databases for Schedule II banks include:

Legislation
  • Canada Deposit Insurance Corporation Act and Regulations
Guidelines
  • OSFI Guideline B-1 - Prudent Person Approach
  • OSFI Guideline B-3 - Classification of Loans Guaranteed by a Parent of the Bank
  • OSFI Guideline A - Capital Adequacy Requirements (CAR) - Simpler Approaches
  • OSFI Guideline A-1 - Capital Adequacy Requirements (CAR)
  • OSFI Guideline B-6 - Liquidity
  • OSFI Guideline B-11 - Pledging
  • OSFI Guideline E-6 - Materiality Criteria for Related Party Transactions
  • OSFI Guideline E-18 - Stress Testing
  • OSFI Guideline E-19 - Internal Capital Adequacy Assessment Process (ICAAP)

Schedule III (FBB – Foreign Bank Branch)

Schedule III banks are branches of foreign banks that are authorized under the Bank Act to do banking business in Canada. Unlike Schedule I and II banks, foreign bank branches are not eligible for deposit insurance provided by the Canadian Deposit Insurance Corporation ("CDIC"). Foreign bank branches may carry on business as either a "full-service branch" or a "lending branch." A full-service branch is permitted to accept wholesale deposits (i.e., amounts greater than $150,000), while a lending branch is prohibited from accepting deposits or otherwise borrowing money except from other financial institutions.

In addition to the legislation and guidance included for all banks, our databases for Foreign Bank Branches include:

Guidelines
  • OSFI Guideline A-10 - Capital Equivalency Deposit
  • OSFI Guideline B-5A - Securities Lending
  • OSFI Guideline E-4B - Role of the Principal Officer and Record Keeping Requirements

To see the cost benefits of using CRSTL's legal databases and workflow solution, take a moment to calculate your Return On Investment with our ROI Calculator.

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