Supervisory Information (Banks) Regulations

The Supervisory Information (Banks) Regulations came into effect on January 30, 2001.

The regulations, made under section 637 of the Bank Act, outline the prescribed supervisory information in relation to banks and their affiliates. This includes information such as ratings assigned by the Superintendent, stages of intervention, orders and directions issued to the bank, reports prepared by or at the request of the Superintendent, and classifications under the Canada Deposit Insurance Corporation Differential Premiums By-law.

The regulations also outline the rules for disclosure of this information, including prohibited disclosures and limited disclosures. Under the regulations, banks are prohibited from directly or indirectly disclosing certain information, but may disclose it to affiliates or directors, officers, employees, auditors, securities underwriters, or legal advisors if they ensure that the information remains confidential.

The regulations also allow for certain material facts or changes related to the bank or affiliate to be disclosed. These Regulations come into force on January 30, 2001.