Traduction de «Passif relatif aux polices hors du Canada » (Français → Anglais) :

The elements of this formula include, first, the Government of Canada's guarantee, which you have discussed very fully, for policy liabilities in the event of bankruptcy.

When we purchased the mortgage insurance franchise from MICC in 1995, the purchase included the assignment of an agreement with the Government of Canada which guarantees 90 per cent of GEMICO's policy liabilities in the event of its bankruptcy.

(2) A reference in sections 615 to 619 and in regulations made under section 620 to the assets in Canada or the liabilities in Canada of a foreign company does not include liabilities of the foreign company for the policies and amounts in respect of which a segregated fund is maintained pursuant to section 593.

6. Notes the ESRB’s statement of views of 9 December 2011 containing its reservations as regards a financial indicator, in which it states that the scoreboard ‘should include short-term liabilities (the sum of liabilities maturing within one year) for the unconsolidated financial sector, net of bank deposits, as a share of total liabilities’ and that ‘this indicator should be preferred to indicators based on flow-of funds equity measures, such as leverage or gearing ratios, because since equity is estimated at market values it is very sensitive to movements of the stock market’; reminds the Commission that Article 4(5) of the MIP Regulation stipulates that ‘th ...[+++]e work of the ESRB shall be taken into due consideration in the drafting of indicators relevant to financial market stability’;