Developing financial sector resilience in a digital world

​​OSFI has launched a three-month consultation with the publication of a discussion paper, Developing financial sector resilience in a digital world: Selected themes in technology and related risks​. The paper focuses on risks arising from rapid technological advancement and digitalization, as these trends impact the stability of the Canadian financial sector. This consultation supports OSFI’s strategic objective to ensure that federally-regulated financial institutions and pension plans are better prepared to identify and develop resilience to non-financial risks before they negatively affect their financial condition.

OSFI is seeking feedback from a wide range of stakeholders including financial sector participants, technology experts, and academics. Their input will help guide OSFI’s regulatory and supervisory approaches to technology risks. OSFI welcomes comments and submissions on the discussion paper by December 15, 2020. Feedback should be sent to Tech.Paper@osfi-bsif.gc.ca.