Draft Pillar 3 Disclosure Guideline 2023 for SMSBs

Document Properties

  • Type of Publication: Industry Letter
  • Date: August 5, 2021
  • To: Banks/BHC

Continuing its initiative to develop tailored requirements that account for the unique nature of Canadian Small and Medium-Sized Banks (SMSBsFootnote 1), OSFI is issuing for Public Consultation the Draft Pillar 3 Disclosure Guideline for SMSBs.

OSFI proposes implementing a proportional set of Pillar 3 disclosure requirements by SMSBs.

  • Category 1, IRB-approved SMSBs will be required to disclose up to 30 tables/templates.
  • Category 1, non-IRB-approved SMSBs will be required to disclose up to 22 tables/templates.
  • Category 2 SMSBs will be required to disclose five tables/templates.
  • Category 3 SMSBs will be required to disclose three tables/templates.

The Draft Guideline lists the disclosures required by SMSBs and their respective implementation dates. OSFI will include the detailed tables and templates in the final Guideline.

Questions and comments should be addressed to Javinder Sidhu, Accounting Policy Division, at Javinder.Sidhu@osfi-bsif.gc.ca by September 29, 2021. A non-attributed summary of comments received, along with OSFI’s responses, will be posted on OSFI’s website when the final version of the guideline is released.

Ben Gully
Assistant Superintendent
Regulation Sector

Footnotes

Footnote 1

SMSBs are banks (including federal credit unions), bank holding companies, federally regulated trust companies, and federally regulated loan companies that have not been designated by OSFI as domestic systemically important banks (D-SIBs). This includes subsidiaries of SMSBs or D-SIBs that are banks (including federal credit unions), federally regulated trust companies or federally regulated loan companies.

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