Posted on OSFI’s website:
April 15, 2020
On Thursday, April 16 at 11:00 a.m. (ET), the Office of the Superintendent of Financial Institutions (OSFI) will offer a technical briefing for analysts on COVID-19 related regulatory measures announced for deposit-taking institutions.
Over the last several weeks, OSFI has announced a series of measures to support the resilience of federally regulated financial institutions and private pension plans as they navigate the challenges posed by COVID-19 and current market conditions.
On April 9, OSFI announced further regulatory adjustments to support the financial and operational resilience of federally regulated banks, and insurance companies. The measures focus primarily on capital adequacy requirements for these institutions as well as changes in their reporting requirements.
On March 30, OSFI issued direction on how federally regulated deposit-taking institutions should treat new capital made available to small and medium sized enterprises through recently announced government programs.
On March 27, OSFI announced specific measures to provide regulatory flexibility to federally regulated financial institutions and private pension plans. This included details on how OSFI is adjusting a number of regulatory capital, liquidity and reporting requirements.
On March 13, OSFI announced the lowering of its Domestic Stability Buffer (DSB) to 1%. OSFI did this to increase the supply of credit to the economy to provide more than $300 billion of additional lending capacity. OSFI also announced the suspension of all consultations and policy development on new or revised guidance, including the new proposed benchmark rate for uninsured mortgages.
OSFI officials will be available to analysts by teleconference on Thursday, April 16 at 11:00 a.m. (ET) to respond to technical questions about these recently announced measures.
CLICK HERE to register for the teleconference. Registration closes on April 15 at 6:00 p.m. (ET). Capacity for this call is limited.
We welcome questions in advance and will be answering them in the order received. Please send your questions to Questions@osfi-bsif.gc.ca by April 15 at 6:00 p.m. (ET)