Guidelines are "best" or "prudent" practices that OSFI expects federally regulated financial institutions to follow. Guidelines set standards for industry activities and behaviour. They address areas such as: solvency standards (e.g., capital adequacy), prudential standards (e.g., large exposure limits), and accounting standards (e.g., non-accrual loans). Guidelines are usually developed in a two-step process, with a draft or interim guideline issued for industry comment, followed by a final guideline. Unlike a draft guideline, an interim guideline comes into effect immediately. Interim guidelines will usually be used in the case of emerging issues or trends where OSFI believes guidance is needed prior to the release of a final guideline.
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OSFI publishes guidelines, which are essentially best or prudent practices, that it expects financial institutions to follow. Guidelines are used to set standards to govern industry activities and behaviour. These include solvency standards (capital adequacy), prudential standards (large exposure limits, portfolio mix), and accounting standards (e.g., non-accrual loans, transfer of assets, etc.).
In 2002, a letter was sent to guideline manual holders, FRFIs, industry associations and provincial superintendents, explaining that paper-based notification of guidelines will be discontinued and invites users to become subscribers.
- Guidelines B-8, B-12 and B-3 for reinsurance are now located under the heading Sound Business and Financial Practices
- Guideline E-1 is now located under Other Application Guides
- Guidelines E-2, E-2A and E-6 are now located under Prudential Limits and Restrictions
- Guidelines E-4, E-5, E-10, E-12, E-13, E-14 and E-15 are now located under Sound Business and Financial Practices