Office of the Superintendent of Financial Institutions
OSFI’s supervisory process is based on the concept of reliance on an individual financial institution's self-assessment of risk. Recent reviews of credit risk management practices have shown that institutions are using differing interpretations of common risk when aggregating exposures for the purpose of assessing compliance with the regulatory guidelines. As a result, OSFI has prepared a guidance note to further clarify the application of credit risk management practices outlined in Guideline B-2. This guidance note comes into effect immediately.
The guidance note is available in English and French on OSFI’s Internet web site (http://www.osfi-bsif.gc.ca) under the Publications section. It can also be obtained by contacting Mr. Stéphane Dupel, General Services Division, by e-mail at email@example.com or by facsimile at (613) 952-8219.
Federally regulated deposit-taking institutions should address any questions to their relationship managers. Others may contact Mr. Wayne Adams, Senior Director, Credit Risk Division, at (416) 973-8529 or by fax at (416) 973-8966.