Interim Regulatory Capital Framework and Reporting Requirements Starting in 2015

Document Properties

  • Type of Publication: Letter
  • To: Federally Regulated Mortgage Insurers
  • Date: June 26, 2014

The 2015 Minimum Capital Test (MCT) for federally regulated property and casualty insurers will be published in September 2014. OSFI has decided that a modified version of the 2015 MCT will apply to mortgage insurers until the new capital guideline for mortgage insurance companies is completed.

The modified version of the 2015 MCT applicable to mortgage insurers was developed by adjusting the 2015 MCT Guideline to reflect the specific characteristics of the mortgage insurance business.  Details will be posted on OSFI’s website in September along with the 2015 MCT Guideline.

Mortgage insurers will begin using the modified version of the 2015 MCT starting with the first reporting period in 2015. Capital positions will be reported by completing the same 2015 P&C Return used by other property and casualty insurers. OSFI will prepare specific instructions to assist mortgage insurers in the completion of their returns.

Questions relating to the interim capital framework or the reporting requirements should be addressed to Jeffrey Muller at (613) 990-7286 or alternatively at


Mark Zelmer
Deputy Superintendent