Pillar 3 Disclosure Requirements

In January 2016, OSFI issued a draft guideline on Pillar 3 Disclosure Requirements that proposed an implementation date of the fiscal year ending 2017 for Canadian domestic systemically important banks (D-SIBs).  After consultations with industry stakeholders, OSFI has decided to extend the implementation date to the fiscal year ending 2018.  This provides D-SIBs the time to focus on a high-quality implementation of the IFRS 9 Financial Instruments accounting standard and better aligns with the planned Pillar 3 implementation dates of other major jurisdictions.

Small and medium size banks will be expected to continue with their existing Pillar 3 disclosure practices.