Total Assets for Supervisability and Public Holding Requirements (Banks and Bank Holding Companies) Regulations

SOR/2001-436

Registration 4 October, 2001

BANK ACT

Total Assets for Supervisability and Public Holding Requirements (Banks and Bank Holding Companies) Regulations

P.C. 2001-1807 4 October, 2001

Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to section 978^a of the Bank Act^b, hereby makes the annexed Total Assets for Supervisability and Public Holding Requirements (Banks and Bank Holding Companies) Regulations.

^a S.C. 2001, c. 9, s. 183^b S.C. 1991, c. 46

TOTAL ASSETS FOR SUPERVISABILITY AND PUBLIC HOLDING REQUIREMENTS (BANKS AND BANK HOLDING COMPANIES) REGULATIONS

TOTAL ASSETS

Definition of "total assets"

1. For the purposes of subsections 54.1(4), 386(3) and 895(3) of the Bank Act, "total assets", in respect of a bank or a bank holding company, at a particular time, means the total value of the assets that would be reported on its balance sheet, prepared as at that time in accordance with the accounting principles and specifications of the Superintendant referred to in subsection 308(4) or 840(4), as the case may be, of that Act.

REPEAL

Repeal

2. The Total Assets (Banks) Regulations¹ are repealed.

¹ SOR/92-303

COMING INTO FORCE

Coming into force

3.* These Regulations come into force on the day on which subsection 54.1(4) of the Bank Act, as enacted by section 57 of the Financial Consumer Agency of Canada Act, chapter 9 of the Statutes of Canada, 2001, comes into force.

*[Note: Regulations in force October 24, 2001, see SI/2001-102.]