Government of Canada / Gouvernement du Canada
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Bank Act

Version of section 485 from 2003-01-01 to 2018-03-25:

Marginal note:Adequacy of capital and liquidity

  •  (1) A bank shall, in relation to its operations, maintain

    • (a) adequate capital, and

    • (b) adequate and appropriate forms of liquidity,

    and shall comply with any regulations in relation thereto.

  • Marginal note:Regulations and guidelines

    (2) The Governor in Council may make regulations and the Superintendent may make guidelines respecting the maintenance by banks of adequate capital and adequate and appropriate forms of liquidity.

  • Marginal note:Directives

    (3) Notwithstanding that a bank is complying with regulations or guidelines made under subsection (2), the Superintendent may, by order, direct the bank

    • (a) to increase its capital; or

    • (b) to provide additional liquidity in such forms and amounts as the Superintendent may require.

  • Marginal note:Compliance

    (4) A bank shall comply with an order made under subsection (3) within such time as the Superintendent specifies therein.

  • Marginal note:Notice of value

    (5) Where an appraisal of any asset held by a bank or any of its subsidiaries has been made by the Superintendent and the value determined by the Superintendent to be the appropriate value of the asset varies materially from the value placed by the bank or subsidiary on the asset, the Superintendent shall send to the bank, the auditor or auditors of the bank and the audit committee of the bank a written notice of the appropriate value of the asset as determined by the Superintendent.

  • 1991, c. 46, s. 485
  • 1996, c. 6, s. 7

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