The Reporter provides a monthly summary of Canadian federal legislative and regulatory.
The Reporter provides a monthly summary of Canadian federal legislative and regulatory developments of relevance to federally regulated financial institutions. It does not address Canadian provincial financial services legislative and regulatory developments, although this information is tracked by BLG and can be provided on request. In addition, purely technical and administrative changes (such as changes to reporting forms) are not covered.
April
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Institution |
Published |
Title and Brief Summary |
Status |
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OSFI [Banks,Bank Holding Companies, Federally Regulated Trust and Loan Companies] |
Revised Liquidity Adequacy Requirements guideline The Office of the Superintendent of Financial Institutions (OSFI) released final revisions to its Liquidity Adequacy Requirements (LAR) guideline. The revised guideline will help financial institutions enhance their resiliency to short-term liquidity stresses, and will ensure that they maintain stable funding profile over the longer-term. |
Effective January 1, 2020. |
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OSFI [Domestic Systemically Important Banks (D-SIBs)] |
Net Stable Funding Ratio Disclosure Requirements The Office of the Superintendent of Financial Institutions (OSFI) is issuing the final version of the Net Stable Funding Ratio Disclosure Requirements Guideline. This guideline sets out the NSFR disclosure requirements for Domestic Systemically Important Banks (D-SIBs). This follows a public consultation in February 2019. |
Effective with the quarterly reporting period ending January 31, 2021. |
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OSFI Domestic Systemically Important Banks (D-SIBs)] |
Final Guideline B-2: Large Exposure Limits for D-SIBs The Office of the Superintendent of Financial Institutions (OSFI) released the final version of its Guideline B-2:Large Exposure Limits for Domestic Systemically Important Banks. Large exposure limits help to constrain the maximum loss an institution could face in the event of a sudden failure of a counterparty. The guideline reflects current sound practices for the management of risks related to large exposures and provides additional guidance on methods OSFI expects D-SIBs to use for identifying, measuring, managing and monitoring risks in this area. Parts of this guideline are drawn from the Basel Committee on Banking Supervision large exposure framework entitled:Supervisory framework for measuring and controlling large exposures. This new version of Guideline B-2:
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Effective November 1, 2019. |
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Bank for International Settlements |
The Basel Committee on Banking Supervision has launched a new section of its website that sets out a consolidated version of its global standards for the regulation and supervision of banks. The consolidated framework aims to improve the accessibility of the Basel Committee's standards and to promote consistent global interpretation and implementation. The framework has been published initially in draft form, together with a consultative document to gather feedback on the website and on various proposed technical amendments to the standards. |
Comments should be submitted by August 9, 2019. |
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Finance Canada |
April 8, 2019 |
Bill C-97,Budget Implementation Act, 2019, No. 1, was introduced on April 8, 2019. It provides for the following:
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Disclaimer
This Reporter is prepared as a service for our clients. It is not intended to be a complete statement of the law or an opinion on any subject. Although we endeavour to ensure its accuracy, no one should act upon it without a thorough examination of the law after the facts of a specific situation are considered.
To view the Reporter for previous months, please visit our Banking and Financial Services publications page.
developments of relevance to federally regulated financial institutions.