Office of the Superintendent of Financial Institutions
OSFI is releasing the final version of Guideline A-10 applicable to Foreign Bank Branches for implementation on January 1, 2020. The guideline addresses OSFI's expectations regarding the minimum deposit, to be held in trust, which authorized foreign banks must maintain in respect of their business in Canada.
Revisions include changing the guideline's title to Foreign Bank Branch Deposit Requirement from Capital Equivalency Deposit, updates and simplifications, and changes to the deposit ratio calculation: off-balance sheet liabilities will no longer be included while accrued expenses will now be included in the calculation.
The attached table in Annex 1 summarizes comments received during the consultation process and provides an explanation of how the comments have been addressed. We thank those who participated in the process.
Questions concerning these changes can be sent to Paul Melaschenko, Capital Division by email at firstname.lastname@example.org.