Office of the Superintendent of Financial Institutions
Adapting Prudential Policy for the New Normal
“...Our intention is that OSFI’s measures will act as a bridge to more stable conditions, guided by our mandate and lessons from previous crises..."
Continue reading: Assistant Superintendent Ben Gully speaks about OSFI’s policy development plans
OSFI is seeking comments and submissions on its discussion paper,
Developing financial sector resilience in a digital world. The paper focuses on risks arising from rapid technological advancement and digitalization, as these trends impact the stability of the Canadian financial sector. This consultation supports OSFI’s strategic objective to ensure that federally-regulated financial institutions and pension plans are better prepared to identify and develop resilience to non-financial risks before they negatively affect their financial condition.
Continue reading: discussion paper
The financial sector today is a more interconnected ecosystem of regulated and non-regulated businesses than ever before. Financial institutions frequently cite third party risk as a top issue due to increasing engagement and reliance on third parties.
Click here to read the key findings from OSFI's 2019-20 study on Third Party Risk and Risk Management.
Continue reading: Results of OSFI's Third Party Risk Analysis
The Domestic Stability Buffer (DSB) remains set at:
1.00% of total risk-weighted assets
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.
About the Superintendent
OSFI works closely with its federal partners, including the Department of Finance, the Bank of Canada, the Canada Deposit Insurance Corporation and the Financial Consumer Agency of Canada.