Waiting for Basel? Next steps for Canada’s bank capital regime - Remarks by Superintendent Jeremy Rudin to the C. D. Howe Institute, Toronto, Ontario, April 6, 2017.
Until recently, the Committee had been working to complete the reform agenda, but those negotiations have stalled, and it is not clear when they will resume in earnest.
In our view, there are important issues that still need to be addressed. Our strong preference is for the Committee to get back to work on those issues, and to reach an agreement that all member jurisdictions will support and implement.
At the same time, Canada is preparing to move ahead on its own, with a Canada-specific plan for improving our capital regime. If we conclude that the Basel process is unlikely to restart in the near future, OSFI will put that plan into action in a measured way.