The Office of the Superintendent of Financial Institutions (OSFI) announced that it will maintain the Domestic Stability Buffer at 3.5 per cent of total risk-weighted assets, a level announced in June 2023 and in effect since Nov. 1, 2023. Accordingly, OSFI expects all systemically important banks to target a Common Equity Tier 1 ratio of … Read more
The Office of the Superintendent of Financial Institutions (OSFI) launched a consultation on the public disclosure of crypto-asset exposures by federally regulated financial institutions in Canada. OSFI will issue draft guidelines on public disclosures by fall 2024. Final guidelines will be communicated by winter 2025, taking effect in Q4 2025. Share your consultation at Pillar3-Pilier3@osfi-bsif.gc.ca until Jan. 31, 2024. The … Read more
The Office of the Superintendent of Financial Institutions (OSFI) remains committed to core liquidity adequacy principles, which promote the prudential stability of, and resilience in, Canada’s financial system. After a thorough and extensive consultation, OSFI has decided to uphold those principles by maintaining the liquidity treatment of wholesale funding sources with retail-like characteristics, such as … Read more
The Office of the Superintendent of Financial Institutions revised the following capital guidelines: Capital Adequacy Requirements (CAR) Life Insurance Capital Adequacy Test (LICAT) Minimum Capital Test (MCT) Mortgage Insurer Capital Adequacy Test (MICAT) The full release is available online. Call 343-550-9373.
The Office of the Superintendent of Financial Institutions released its 2022 to 2023 Annual Report. The report covers OSFI’s progress and achievements from April 1, 2022 to March 31, 2023. It also shows how OSFI continues to deliver on its 2022 to 2025 Strategic Plan and the 2022 to 2023 Departmental Plan. The full release is available online. Call 343-550-9373.
The Office of the Superintendent of Financial Institutions released its draft Standardized Climate Scenario Exercise methodology for consultation. The full release is available online. Call 343-550-9373.
The Office of the Superintendent of Financial Institutions released two draft guidelines: An Integrity and Security Guideline, which sets expectations for the integrity and security of financial institutions, including protection against foreign interference; and An enhanced Guideline E-21 on Operational Resilience and Operational Risk Management, which sets out expectations for operational resilience and operational risk The full release … Read more
OSFI released its fall update to the April publication of its 2023-2024 Annual Risk Outlook. While the nine financial system risks previously identified remain, this update notes a continuing shift in the risk environment. In particular, it highlights the impact of elevated inflation and signs of weakening credit quality, particularly in the commercial real estate market. … Read more
The Office of the Superintendent of Financial Institutions (OSFI) is proposing changes to its capital and liquidity approach to crypto-assets to reflect an evolving risk environment and international developments. OSFI announced two draft guidelines, one for federally regulated deposit-taking institutions and another for insurers, on the regulatory capital treatment of crypto-asset exposures. The two draft guidelines … Read more
The Office of the Superintendent of Financial Institutions announced additional clarification related to the liquidity treatment of wholesale funding sources with retail-like characteristics such as high-interest savings account exchange traded funds. OSFI has decided to defer the previously announced timelines for affected deposit-taking institutions to align with the Liquidity Adequacy Requirement guideline for these products. Instead of expecting … Read more
