Capital Rulings

Capital rulings describe how OSFI has applied or interpreted specific provisions of its guidance relating to regulatory capital, leverage, liquidity, and total loss absorbing capacity (TLAC). These rulings are designed to provide insights for issuers and market participants in relation to outstanding instruments or potential transactions where the relevant facts may be similar. As each instrument or transaction may raise different considerations than what are contained in these rulings, these rulings should not be relied upon as binding for other instruments or transactions. Institutions are strongly encouraged to seek rulings from OSFI’s Capital Division prior to issuing instruments. OSFI reserves the right to add to, amend, or repeal its rulings at any time.

Questions or comments regarding capital rulings may be directed to Capital Division.