Office of the Superintendent of Financial Institutions
For Immediate Release
OTTAWA ─ January 17, 2020 ─ Office of the Superintendent of Financial Institutions
The Office of the Superintendent of Financial Institutions (OSFI) is seeking comments on a consultative document related to the capital and liquidity requirements applicable to small and medium-sized deposit-taking institutions.
In this document, OSFI proposes changes to the capital and liquidity requirements for these institutions and summarizes stakeholder feedback on a July 2019 discussion paper:
Advancing Proportionality: Tailoring Capital and Liquidity Requirements for Small and Medium-Sized Deposit-Taking Institutions.
Draft capital and liquidity requirements specific to small and medium-sized deposit-taking institutions will be published in late spring 2020.
The goal of this exercise is to improve institutions’ preparedness and resilience to financial risks and to ensure that OSFI’s capital and liquidity regime remains appropriate for smaller, less complex organizations. In addition, soliciting input from stakeholders at an early stage of the policy development process will provide Canadians with additional insight into the objectives guiding our work.
“This initiative strives to further align capital and liquidity requirements with the unique characteristics of small and medium-sized deposit-taking institutions in Canada, ensuring the protection of depositors and other creditors while allowing these institutions to compete effectively and take reasonable risks.” — Ben Gully, Assistant Superintendent, Regulation.
The Office of the Superintendent of Financial Institutions (OSFI) is an independent agency of the Government of Canada, established in 1987, to protect depositors, policyholders, financial institution creditors and pension plan members, while allowing financial institutions to compete and take reasonable risks.