Office of the Superintendent of Financial Institutions
OSFI has taken a number of actions that build resilience of federally regulated financial institutions and improve the stability of the Canadian financial system and economy in response to challenges posed by COVID-19.
OSFI announcements concerning COVID-19 are posted below.
News Release - March 30, 2020
On March 30, OSFI issued direction on how federally regulated deposit taking institutions (DTIs) should treat new capital made available to small and medium sized enterprises through
recently announced government programs.
By announcing the capital treatment for loans made through these programs, OSFI is providing timely direction for institutions, financial markets and borrowers.
News Release - March 27, 2020
On March 27, OSFI announced a series of regulatory adjustments to support the financial and operational resilience of federally regulated banks, insurers and private pension plans. This includes adjusting a number of regulatory capital, liquidity and reporting requirements.
Notice - March 16, 2020
On March 12,
OSFI disclosed that one of its Ottawa employees was undergoing testing for the COVID-19 virus, and that as a precautionary measure Ottawa staff have been asked to work from home temporarily. The employee has received a negative test result.
News Release - March 13, 2020
Today the Office of the Superintendent of Financial Institutions is lowering the Domestic Stability Buffer (DSB) by 1.25% of risk-weighted assets, effective immediately. The release of the DSB will support in excess of $300B of additional lending capacity by domestic systemically important banks.
Notice - March 13, 2020
OSFI has decided to fully implement its Business Continuity Plan (BCP) across the organization. This means all staff in OSFI’s four offices (Montreal, Ottawa, Toronto, Vancouver) have been asked to begin teleworking until April 5, 2020.
Notice - March 12, 2020
An OSFI employee located in Ottawa is being tested for COVID-19. Please note that, at this time, it is not a presumptive or confirmed case. OSFI has decided that in an abundance of caution to ask employees at the Ottawa offices to telework temporarily. Approximately 360 employees have been asked to work from home as a result.
Department of Finance Canada – All news
CDIC takes action to support the confidence of Canadian depositors in the wake of COVID-19 global outbreak
COVID-19: How FCAC is responding
COVID-19: Actions to Support the Economy and Financial System (Bank of Canada)