Deposit-Taking Institutions - Reporting Manual Office of the Superintendent of Financial Institutions

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1 RETURN OF IMPAIRED ASSETS PURPOSE This return provides the with detailed information relating to impaired assets. STATUTORY Sections 628 and 600 of the Bank Act and Section 495 of the Trust and Loan Companies Act. APPLICATION This return applies to all deposit-taking institutions. PUBLICATION Certain information from this return is made available on a total and institution-by-institution basis on the OSFI website at FREQUENCY Institutions with fiscal year-ends of October - Quarterly - January, April, July and October Institutions with fiscal year-ends of December - Quarterly - March, June, September and December CONTACT PERSON Provide the name and phone number of the person to contact regarding any questions about this return. REPORTING DATES The return is to be completed as of the last day of each quarter and submitted within 45 days of the reporting date as follows: Institutions with fiscal year-ends of October - January, April, July and October Institutions with fiscal year-ends of December - March, June, September and December CONTACT AGENCY OSFI. Revised: June 2013 Page 1

2 GENERAL INSTRUCTIONS Accounting practices with respect to impaired assets are described in detail in Section 3025, Impaired Loans, of the Canadian Institute of Chartered Accountants (CICA) Handbook and OSFI Guideline C-1 that provides application guidance to this section. Impaired Assets Report the Recorded Investment, Allowance for Impairment and Carrying Amount for each of the categories of assets set out below. Note that the Carrying Amount is equal to Recorded Investment minus Individual Allowance. Report the Group Allowance on the Total line only. 1. Deposits with Regulated Financial Institutions 2. Securities 3. Loans (a) Non-Mortgage Loans (i) To Individuals for Non-Business Purposes (ii) Other Report all Non-Mortgage Loans other than to Individuals for Non-Business Purposes (b) Mortgage Loans (i) Residential* Report all residential mortgages including reverse mortgages. (ii) Non-Residential 4. Acceptances 5. Other Recognized Assets Report all assets not listed above. 6. Total Report the total for each of Recorded Investment, Allowance for Impairment and Carrying Amount. Revised: June 2013 Page 2

3 Memo Items 1. Mortgage loans Residential* - Of which: Reverse mortgages Separately report reverse mortgages in this line item. Separately report reverse mortgages in this line item. The sum of a & b & c & d below should include the total outstanding reverse mortgage exposure. a) Reverse Mortgages: Principal The mortgage principal outstanding. b) Reverse Mortgages: Accrued Interest The total accrued interest to date on the reverse mortgage loan. c) Reverse Mortgages: Accrued Fees The total accrued fees to date on the reverse mortgage loan. d) Reverse Mortgages: Other Accrued Items Other Items that are included in the outstanding amount. The purpose of this field is act as a catchall for other items not already mentioned in items a - c. 2. Reverse mortgages - Residential a) Reverse Mortgages: Unpaid Taxes The total unpaid taxes to date. This would include unpaid taxes that are not necessarily included in the total reverse mortgage outstandings. b) Reverse Mortgages: Unpaid Insurance The total unpaid insurance fees to date. This would include unpaid insurance that is not necessarily included in the total reverse mortgage outstandings. 3. Unrecognized Items on Which Allowances Have Been Established Report the Notional or Contract Amount and the Allowance for Impairment for Unrecognized Items on Which Allowances Have Been Established. Revised: June 2013 Page 3

4 CHANGE CONTROL LOG Amendment Effective Reporting Date Page Description 1 Q Delete: Memo Item: Assets not included in Impaired Assets on which allowances have been established on a group basis. Change: Report the Allowance for Impairment in three separate columns. Report individual allowance for each applicable line and in total only for the Group Allowance, Other and Country-Risk. 5 Add: A paragraph to the General Instructions. 2 Q Change:... Impaired Loans... changed to... Impaired Assets... 3 Q Add: Section 600 of the Bank Act (applies to Foreign Bank Branches) Additional information on disclosure Change: Section 523 of the Bank Act is now Section Q Change: Heading on the last column Impaired Loans changed to Impaired Assets. 5 Q Change: Ivation Data Systems Inc. to Beyond 20/20 Inc. 2, 4 Delete: Total Claims on Designated Countries table Memo Item - Impaired Claims on Designated Countries table Appendix I Exposures to Designated Countries 5, 6, 7 Delete: Instructions relating to Total Claims on Designated Countries Instructions relating to Memo Item - Impaired Claims on Designated Countries Instructions relating to Appendix I 6 Q Add: Address for OSFI Website Delete: Reference to Beyond 20/20 2 Delete: Impaired Assets Net of All Allowances column. 3 Delete: Reference to Impaired Assets Net of All Allowances column. Revised: June 2013 Page 4

5 CHANGE CONTROL LOG Amendment Effective Reporting Date Page Description 7 Q , 4 Delete: Memo items on Foreclosed Assets Held for Sale Group Allowance, Country Risk 8 Q , 3 Change: On-balance sheet to recognized assets Off-balance sheet to unrecognized 9 Q Delete: The return template copy has been deleted from these instructions and has been posted as a separate item on OSFI s website 10 Q Add: ing of each line item * and additional instructions under (b)(i) Residential 3 Add: ing of each line item 1. Mortgage loans Residential* - Of which: Reverse mortgages and related instructions 11 Q Add: 1. a) Reverse Mortgages: Principal 1. b) Reverse Mortgages: Accrued Interest 1. c) Reverse Mortgages: Accrued Fees 1. d) Reverse Mortgages: Other Accrued Items 2. Reverse mortgages Residential 2. a) Reverse Mortgages: Unpaid Taxes 2. b) Reverse Mortgages: Unpaid Insurance Revised: June 2013 Page 5

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