Modernizing policies, guidance, and supervision for regulatory efficiency
We’re modernizing our guidance framework to create a regulatory environment that is agile, risk based, and capable of delivering targeted responses—one that enhances resilience and contributes to innovation across Canada’s financial sector for economic growth.
On this page
Work to date
We’ve taken proactive steps to modernize our work and this is just the start. The work that we’ve been doing to recalibrate our regulatory framework is not a singular event. It’s part of who we are as a modern regulator. This work will be ongoing as it enhances how we respond to risks and improves the overall efficiency of our oversight.
Benefits
Our approach helps contribute to public confidence in the Canadian financial system by:
- focusing on the right risk, with the right regulatory response, at the right time
- eliminating redundancies and outdated expectations, and simplifying guidance
- supervising more effectively and efficiently
- enhancing transparency and predictability
Policy release and announcement schedule
Our Quarterly Release approach provides transparency and predictability by issuing (draft and final) guidance, consultations, and announcements on predetermined dates. This schedule:
- supports our proactive efforts to modernize our policies and guidance
- aligns with our risk priorities
- helps institutions focus on the right risks at the right time
This approach excludes announcements about the Domestic Stability Buffer, the Annual Risk Outlook, and the Semi-Annual Risk Outlook. Those dates can be found under major announcements on OSFI’s homepage.
Our current guidance library and consultations are always available on our website.
Discussion forum – Get involved
Sign up to participate in the discussion forum on Industry Day and send us your feedback afterwards.
Get involvedUpcoming expected Quarterly Release Days and Industry Days
The following provides an overview of our planned guidance priorities. Plans may be adjusted due to external factors causing us to reconsider the dates for the guidance impacted. See Letter to industry - OSFI’s revised policy plan on creating regulatory and supervision efficiency where we can and focusing our efforts where it counts for a more effective, forward-looking regulatory system.
Policy [P] – guidance requiring action, such as adhering to expectations or providing feedback
Announcement [A] - for informational purposes and no action is required
Summer Quarterly Release
- Quarterly Release Day: September 11, 2025
- Industry Day: September 25, 2025
| Policy [P] Announcement [A] |
Release | Banks | FBB | T&L | L&F | P&C |
|---|---|---|---|---|---|---|
| [P] | Final Guideline E-23 Model Risk Management | True ✓ | True ✓ | True ✓ | True ✓ | True ✓ |
| [P] | Final Capital Adequacy Requirements (CAR) Guideline (2026) | True ✓ | True ✓ | |||
| [A] | Letter to industry – Revision of OSFI’s approach regarding Administrative Monetary Penalties (AMPs) | True ✓ | True ✓ | True ✓ | True ✓ | True ✓ |
| [A] | Standardized Climate Scenario Exercise (SCSE) What We Learned Report | True ✓ | True ✓ | True ✓ | True ✓ | |
| [A] | Guideline E-15 Appointed Actuary: Legal Requirements, Qualifications and Peer Review | True ✓ | True ✓ | |||
| [A] | Cyber self-assessment tool updates (Being published on October 31, 2025.) | True ✓ | True ✓ | True ✓ | True ✓ | True ✓ |
Fall Quarterly Release
- Quarterly Release Day: November 20, 2025
- Industry Day: December 4, 2025
| Policy [P] Announcement [A] |
Release | Banks | FBB | T&L | L&F | P&C |
|---|---|---|---|---|---|---|
| [P] | Consultation on draft Capital Adequacy Requirements (CAR) Guideline (2027) | True ✓ | True ✓ | |||
| [P] | Final Minimum Capital Test (MCT) Guideline (2026) | True ✓ |
Winter Quarterly Release
- Quarterly Release Day: January 29, 2026
- Industry Day: February 12, 2026
| Policy [P] Announcement [A] |
Release | Banks | FBB | T&L | L&F | P&C |
|---|---|---|---|---|---|---|
| [P] | Consultation on revised Guideline B-12 Interest Rate Risk Management | True ✓ | True ✓ | |||
| [P] | Final Liquidity Adequacy Requirements (LAR) Guideline (2026) | True ✓ | True ✓ | |||
| [P] | Consultation on draft Credit Risk Management Guideline | True ✓ | True ✓ | True ✓ | True ✓ | True ✓ |
| [P] | Consultative document on Accountability Framework for board and senior management (postponing the consultation on a draft Corporate Governance and Accountability Guideline) | True ✓ | True ✓ | True ✓ | True ✓ | |
| [P] | Consultation on climate disclosures for assets under management per Guideline B-15 | True ✓ | True ✓ | |||
| [A] | Crypto-asset exposure disclosure notice | True ✓ | True ✓ | True ✓ | True ✓ | True ✓ |