Office of the Superintendent of Financial Institutions
Guideline B-20 : Preparing for the Unexpected
Scrutiny of OSFI's mortgage stress test has intensified recently. On February 8, 2019, Jeremy Rudin, Superintendent of Financial Institutions, had a fireside chat with Andy Charles, moderator, at the Northwind's Housing Finance Forum, in Cambridge, ON, about how OSFI's mortgage stress test has improved lending standards and better prepared industry for the unexpected.
"OSFI oversight of mortgage underwriting standards gives us a tool that we need to ensure the safety and stability of Canadian banks and the Canadian financial system. What it doesn't give us is a dial we can turn up and down to try to get particular outcomes in the housing market."
- Jeremy Rudin, Superintendent of Financial Institutions