Central 1 Credit Union, Vancouver, British Columbia, said it will return capital to its members – $50 million Canadian dollars’ worth – following a regulatory change.

On Aug. 24, Central 1’s regulator, the British Columbia Financial Institutions Commission, amended the credit union’s borrowing multiple requirement to no more than 17.0:1 for the Mandatory Liquidity Pool segment, and no more than 15.0:1 for the Wholesale Financial Services segment. As a result, Central 1 said it was able to reduce the amount of capital it holds, and return that capital to members, while remaining well within regulatory requirements.

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