OSFI

Residential Mortgage Insurance Underwriting Practices and Procedures

OSFI is issuing for comment Draft Guideline B-21, Residential Mortgage Insurance Underwriting Practices and Procedures. The Draft Guideline sets out OSFI’s expectations with respect to prudent residential mortgage insurance underwriting and related activities.

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Draft Guideline B-21
 

Remarks by Deputy Superintendent Mark Zelmer to the C.D. Howe Institute

"OSFI recognizes more can be done to manage regulatory burden for smaller institutions. But, at the end of the day, OSFI’s mandate requires us to focus on protecting depositors, policyholders and creditors, while having due regard to the need to allow institutions to compete effectively and take reasonable risks. After all, competition in financial services is best served by a resilient financial system."

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OSFI Pillar Newsletter
 

Remarks by Superintendent Julie Dickson to the 58th Annual Canadian Reinsurance Conference

“We must all absorb and apply the lessons learned from the financial crisis. We must adjust to changing times. We need to take care, when designing new rules, to do no harm. And in resurging, we need to keep an eye on new risks”

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Jean-Claude Ménard
 

Remarks by Andrew Kriegler to the National Bank Financial 12th Annual Canadian Financial Services Conference

"Having three lines of defense is not about duplication but rather about ensuring that institutions have complementary responsibilities and capabilities within the three lines, that they are working together to support the safety, soundness and profitable risk-taking of their institutions."

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Andrew Kriegler

About OSFI

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.