OSFI

The Fierce Urgency of Now: The Canadian Financial Sector in a Post-Pandemic World, a prudential Perspective

The Superintendent discussed climate change, digitalization and the complicated risk environment for OSFI, institutions and Canadians. He signalled how OSFI plans to transform itself to meet these rapidly changing risks.

“OSFI is mindful that we serve all Canadians in all regions; to them we pledge transparency and open-mindedness…Our risk environment demands that we transform our approach and our organization to meet the extraordinary opportunities and challenges before us.”

Continue reading: The Fierce Urgency of Now: The Canadian Financial Sector in a Post-Pandemic World, a prudential Perspective

Industry consultation – Draft insurance capital guidelines 2023

The consultation process will help to refine the capital expectations that institutions will be required to meet upon implementation of IFRS 17.

Explanation of specific changes to each guideline, as well as how to make a submission, can be found in individual cover letters for each guideline.

Continue reading: Industry consultation – Draft insurance capital guidelines 2023

OSFI launches consultation on enhanced assurance expectations

Today the Office of the Superintendent of Financial Institutions (OSFI) launched a ten-week consultation with the publication of a discussion paper, Assurance on Capital, Leverage and Liquidity Returns for federally regulated insurers and deposit-taking institutions.

 

The Domestic Stability Buffer (DSB) is set at:
1.00%
of total risk-weighted assets,
however will be set to 2.50% of risk-weighted assets effective October 31, 2021

Minimum Qualifying Rate for Uninsured Mortgages

Effective June 1, 2021, the minimum qualifying rate for uninsured mortgages is the greater of:
the mortgage contract rate plus 2% or 5.25%.

Recently Posted

About OSFI

National capital region's top employers

The Office of the Superintendent of Financial Institutions (OSFI) is an independent agency of the Government of Canada, established in 1987 to contribute to the safety and soundness of the Canadian financial system. OSFI supervises and regulates federally registered banks and insurers, trust and loan companies, as well as private pension plans subject to federal oversight.

Superintendent

Peter Routledge 

Peter Routledge

About the Superintendent

Our Partners

OSFI works closely with its federal partners, including the Department of Finance, the Bank of Canada, the Canada Deposit Insurance Corporation and the Financial Consumer Agency of Canada.

View infographic.