The Reporter provides a monthly summary of federal legislative and regulatory developments of relevance to federally regulated financial institutions. It does not address 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.



Title and Brief Summary



Published (Gazette) — June 19, 2013

SI/2013-61 Order Fixing the Day after the Day on which this Order is made as the Day on which Paragraph 21.52(1)(b) of the National Housing Act Comes into Force and July 1, 2013 as the Day on which Sections 361 to 364 of the Jobs, Growth and Long-term Prosperity Act Come into Force

In Force July 1, 2013


[Applicable to banks and trust and loan companies]

Issued — June 6, 2013

Foreign Exchange Settlement Risk

OSFI is issuing an advisory to establish expectations with respect to the management of foreign exchange settlement risk by banks, bank holding companies and trust and loan companies. The basis for the advisory comes from the Basel Committee on Banking Supervision’s (BCBS) paper entitled Supervisory guidance for managing risks associated with  the settlement of foreign exchange transactions.




Financial Services Sectors
Banking and Financial Services