Regulatory Alerts2013-06-20
Notice on Designation of Desjardins Group as a Domestic Systemically Important Financial Institution
The Autorité des marchés financiers issued this notice to designate Desjardins Group as a domestic systemically important financial institution, requiring the cooperative to meet higher capital buffers and enhanced supervisory standards. Effective January 1, 2016, Desjardins Group must maintain a Tier 1a capital target of 8 percent, incorporating a 1 percent additional loss absorbency surcharge on risk-weighted assets. The designation further mandates intensified supervisory examinations, mandatory recovery and resolution plans, and comprehensive risk disclosures aligned with Financial Stability Board guidelines.
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