Office of the Superintendent of Financial Institutions
The purpose of this return is to provide a consolidated statement of comprehensive income of the institution for the periods commencing either November 1 or January 1 and ending on the last days of either January, April, July and October or March, June, September and December. The income statement categories reflect the information required by the major users - the Office of the Superintendent of Financial Institutions, the Bank of Canada, Canada Deposit Insurance Corporation and Statistics Canada - for purposes of analyzing and monitoring the individual and aggregate financial condition of institutions.
Sections 628 and 600 of the Bank Act and Section 495 of the Trust and Loan Companies Act.
This return applies to all deposit-taking institutions.
Certain information from this return is available on a total and institution-by-institution basis on the OSFI website at
Provide the name and phone number of the person to contact regarding any questions about this return.
The return is to be completed as of the last day of each quarter and submitted within 30 days of the reporting date as follows:
All asset and liability references in the reporting of interest income and expenses in this return are consistent with the "Monthly Balance Sheet", unless specifically stated to the contrary.
Total Year To Date (YTD) represents the to-date cumulative total of income/expenses booked in and out of Canada for the period either commencing November 1 or January 1, expressed in thousands of Canadian dollar equivalents.
Categories of income from Insurance Subsidiaries that correspond to institution income categories such as interest and dividends from securities and interest on mortgages will be reported on the appropriate lines.
Presently a separate line is included for reporting the interest and dividend income from securities of a securities subsidiary that was an established business enterprise acquired by a bank subsequent to changes in the Bank Act in 1987 (acquired securities subsidiary). Any decision to further segregate this income by balance sheet products is considered a future development, which would be the subject of discussion between the regulator and the industry, as to the incremental value of such information in relation to the required systems implementation costs.
The income statement effects of hedging transactions, or "conversion" transactions such as interest rate swaps, should follow the classification of the income statement effects of the underlying instrument or position.
Companies are required to prepare their interim and annual financial statements in accordance with IFRSs for fiscal years beginning on or after January 1, 2011. The reporting package has been revised for all filers who are now reporting under IFRSs. References to CGAAP have been removed.
Dividend income on term-preferred shares is accounted for on an accrual basis, subject to considerations of collectability.
Dividend income on other shares should not be accrued until it is clearly payable.
The reporting of "fees" income from lending activities is to follow IAS 18, Revenues.
The sum of the component line references will include income for Items 1 to 6.
General Instructions for Deposits
Include brokerage fees paid for the placement of deposit instruments. In the case of term deposits, any significant fees should be amortized over the term of the deposit.
Interest on deposits includes any amortization of discounts or premiums.
The sum of Items 8 and 9.
The sum of Items 10 to 12.
Item 7 minus Item 13.
Item 14 minus Item 15.
Realized and unrealized gains (losses) on derivative trading assets and liabilities include all revenues and expenses directly related to these instruments.
Insurance-Related Income comprises certain income categories from Insurance Subsidiaries that do not readily fall into the income categories used in institution financial statements. This income is to be reported as "Insurance-Related Income". Any non-interest income from Insurance-Related Assets (Asset 15 on the Balance Sheet) is to be reported as "Insurance-Related Income".
The sum of Items 17, 18 and 20.
The sum of Items 16 and 21.
Note: (The appropriate amount of foreign tax to be included above should be determined using these guidelines:
This treatment recognizes that most city and state taxes are computed by reference to corporate income. However, it should be noted that this treatment could create a difference between accounting and tax records where the tax is based on capital).
Total of Items 23, 24 and 25.
Report Item 22 less Item 26.
Item 27 minus item 28.
Net income is broken out as being attributable to "non-controlling interest" and to "equity holders". Net income attributable to equity holders and non-controlling interest should be completed as the sum of line 31(a) Net income attributable to non-controlling interest and line 31(b) Net income attributable to equity holders.
Note: Foreign bank branches are to report net income under line 31(b) if the net income is attributable to the owners of the parent (i.e. equity holders of the parent).
Report dividends declared on preferred shares.
Report Item 31 minus Item 32.
Report balance of retained earnings at beginning of the year.
Add net income (loss) attributable to equity holders. This amended line equals line 31(b), excluding foreign bank branches.
Report balance at the end of the period. This balance must agree with Liability 9(d) on the monthly balance sheet.
Under IFRS, total comprehensive income is presented as an allocation attributable to equity holders and non-controlling interests – thus is reported "gross" of non-controlling interests in lines 1-4 inclusive.
Line 2 items are reported gross of non-controlling interests (i.e. attributable to both equity holders and non-controlling interests)
Items that may be reclassified subsequently to Net Income:
Report balance at the end of the period for Other Comprehensive Income (Loss).
Report total of all Items listed in Schedule 1, Other Comprehensive Income (Loss).
Complete lines 4 a) and 4 b); Line 4=line 4a) + 4 b)
AOCI is reported net of non-controlling interests (i.e. attributable to equity holders).
Report balance at the end of the period.
Captures the impairment and subsequent reversal of impairment (if any) on securities (line 1) and other assets (line 2), other than loans. (Note that on the balance sheet (M4), amounts for "securities" and "other assets" (e.g., goodwill) are reported net of impairment. The carrying amounts reported include impairment, if any.)
Section V is required because IFRS permits reversal of impairment of assets, other than goodwill.
This section should only reflect those instruments that are not fair valued through the income statement. For example, DTIs should report securities that are carried as AFS but not trading securities.