The Autorité des marchés financiers reports that it will be revising its guideline for capital adequacy requirements for financial service cooperatives to reflect the new Basel Capital Accord (Basel II).

Like other regulatory authorities, such as the Office of the Superintendent of Financial Institutions Canada, the AMF will be revising its guideline in respect of capital adequacy requirements for financial service cooperatives to reflect the new Basel Accord. The revised framework will be effective on January 1, 2009.

The AMF has notified the Desjardins Group, the only targeted entity, about how its guideline would be implemented and will be releasing the various capital calculation methods provided for in Basel II.