Office of the Superintendent of Financial Institutions
For Immediate Release
OTTAWA ─ November 21, 2017 ─ Office of the Superintendent of Financial Institutions Canada
Today the Financial Stability Board (FSB) added Royal Bank of Canada (RBC) to the list of global systemically important banks (G-SIBs). The G-SIB designation and subsequent increased regulatory expectations are designed to reduce the likelihood of a failure and the potential impact that a failure would have on the global economy.
RBC is already subject to OSFI’s framework for domestic systemically important banks (D-SIBs), and therefore is well positioned to meet the G-SIB requirements starting in January 2019.
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.
Annik FaucherOSFI – Public Affairs email@example.com