March 31, 2020 COVID-19 Organization

Montréal – The Autorité des marchés financiers (the “AMF”) today announced a series of measures to minimize the impact of COVID-19 on Québec’s financial system.

“These measures stem from a daily analysis of developments in the situation caused by COVID-19 and demonstrate the AMF’s desire to show flexibility with financial institutions so that, in return, they can support individuals and businesses that are experiencing difficulty and help Québec’s economy,” said Louis Morisset, AMF President and CEO.

The measures supplement or clarify the measures announced by the AMF on March 19, 2020. Today’s announcement concerns the following financial sectors:

• Financial services cooperatives, trust companies and savings companies
• Deposit institutions authorized under the Deposit Institutions and Deposit Protection Act
• Québec-chartered insurers

Specifically, the measures taken by the AMF are reflected in adjustments to the capital and liquidity adequacy guidelines, regulatory and administrative relief in respect of certain provisions of the Deposit Institutions and Deposit Protection Act, and additional information regarding the consultation and supervisory processes.

The AMF also encourages financial institutions to take advantage of latitude provided elsewhere in the capital and liquidity framework to ensure that the needs of Québec businesses and consumers are optimally met by the flexibilities and programs put in place by the federal and provincial governments and the Bank of Canada.

For all measures affecting financial services cooperatives, trust companies and savings companies, please refer to the following document (pdf - 83 KB)This link will open in a new windowUpdated on March 31, 2020.

For all measures affecting deposit institutions authorized under the Deposit Institutions and Deposit Protection Act, please refer to the following document (pdf - 56 KB)This link will open in a new windowUpdated on March 31, 2020.

For all measures affecting Québec-chartered insurers, please refer to the following document. (pdf - 28 KB)This link will open in a new windowUpdated on March 31, 2020

The Autorité des marchés financiers is the regulatory and oversight body for Québec’s financial sector.

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