Document Properties
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Type of Publication: Letter
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Reference: Guideline for Banks/FBB/BHC/T&L/Life/P&C/IHC
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To:
- Banks
- Foreign Bank Branches
- Bank Holding Companies
- Trust and Loan Companies
- Life Insurance Companies
- Property and Casualty Insurance Companies
- Insurance Holding Companies
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Date: March 11, 2020
OSFI is issuing a revised version of Guideline E-22, which is effective immediately. The revisions consist of two changes: (1) a clarification on the treatment of securities issued by entities that receive capital support from the US government, and (2) the extension of the final implementation of the initial margin requirements by one year.
The extension of the final implementation of the initial margin requirements is in line with the internationally agreed upon one-year extension. With this extension, the final implementation phase will take place on September 1, 2021.
Questions on the revised guideline should be sent to Patrick Tobin, Capital Specialist, Capital Division by email (Patrick.Tobin@osfi-bsif.gc.ca).
Yours truly,
Ben Gully
Assistant Superintendent
Regulation Sector