Draft TLAC Disclosure Requirements guideline

OSFI is issuing for comment the Total Loss Absorbing Capacity (TLAC) Disclosure Requirements draft guideline and consequential amendments to the Capital Disclosure Requirements guideline (formerly the advisory entitled Public Capital Disclosure Requirements related to Basel III Pillar 3). Together, these guidelines are a key element of a TLAC regime designed to ensure Canada’s largest banks maintain a minimum capacity to absorb losses and enhance stability within the financial sector. D-SIBs are expected to provide public disclosure of TLAC information for the fiscal quarter commencing on November 1, 2018 (Q1 2019). The removal of previous transitional guidance that is no longer applicable as of January 1, 2018 applies to all federally regulated deposit-taking institutions.

Comments on the draft guidelines should be provided no later than April 17, 2018.