Document properties
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Type of publication: Letter
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Date: November 14, 2023
Today, the Office of the Superintendent of Financial Institutions (OSFI) released the final amendments to the Pillar 3 Disclosure Guidelines to incorporate the market risk and credit valuation adjustment (CVA) risk disclosures of the Basel Framework.
These amendments are applicable for
D-SIBs and
SMSBs designated by OSFI to apply the market risk framework of the Capital Adequacy Requirements Guideline. Proportional disclosure requirements for smaller, less complex deposit-taking institutions continue to apply in the SMSB separate guideline and is inherent in the eligibility requirements for the application of the market risk framework and methodology applied. These disclosures are effective for the fiscal year-end 2024 reporting period.
OSFI issued the draft amendments to Pillar 3 Disclosure Guidelines in April 2022 for a 60-day consultation period. OSFI thanks those who provided a submission. The comments we received were supportive in nature and did not result in any substantive changes to the guidelines. Consequential changes were made to the templates to incorporate the Basel Committee on Banking Supervision technical amendments on market risk and CVA risk, as well as other minor maintenance-related changes to the Pillar 3 tables and templates as part of normal course.
Tolga Yalkin
Assistant Superintendent
Regulatory Response Sector