2023 BCAR & LRR public consultation

Document Properties

  • Type of Publication: Letter
  • Revised: May 4, 2021
  • To:
    • Banks
    • Bank Holding Companies
    • Federally Regulated Trust and Loan Companies

OSFI is releasing today, for public consultation, revisions to the following regulatory returns:

On March 11, 2021, OSFI launched an industry consultation on proposed regulatory changes to introduce the latest and final round of Basel III reforms into its capital, leverage and liquidity requirements, and related disclosure guidelines for banks. OSFI stated it would undertake public consultations on corresponding changes to the related regulatory returns separately in 2021 and 2022. Today’s proposed revisions to the BCAR and LR returns reflect this, and they include specific requirements applicable to small and medium-sized deposit-taking institutions (SMSBs).

In addition, the BCAR regulatory return will transition to XML filing format from the current ‘.dat’ filing format effective for the Q1 2023 filing period and subsequent periods. The transition is driven by the upcoming changes to the BCAR regulatory return and to support system scalability and enhancements. OSFI will support this transition by providing clear specifications, guidance and tools (e.g., XML/XSD files, technical specifications, instructions).

Questions and comments on today’s proposals should be sent to OSFI by email at BCARconsultations@osfi-bsif.gc.ca no later than July 9, 2021.