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.

September 2015



Title and Brief Summary


Bank of Canada

Issued September 30, 2015

Completion of Public Consultations: Bank of Canada's Framework for Financial Market Operations and its Emergency Lending Assistance Policies

The Bank of Canada published summaries of, and responses to, comments received through consultation processes initiated in May 2015 regarding (i) the Bank of Canada's framework for financial market operations and (ii) the Bank of Canada's emergency lending policies. In these documents, the Bank also communicated any related changes being implemented. These documents are:

  1. Changes to the Bank of Canada's Framework for Financial Market Operations”; and
  2. Bank of Canada Emergency Lending Policies Consultations: Summary and Responses to Comments Received

Effective October 1, 2015


[Applicable to banks, cooperative credit associations, trust and loan companies and insurance companies]

Issued September 30, 2015

Composite Risk Rating and Assessment Criteria

OSFI updated its Financial Assessment Criteria to guide supervisory assessments of an institution's Financial function. These criteria replace the Financial Analysis Assessment Criteria.



[Applicable to banks]

Issued September 11, 2015

Public Disclosure Requirements for G-SIBs

SFI is issuing a revised version of its advisory that assists affected banks with the implementation in Canada of the public disclosure requirements outlined in the Basel Committee on Banking Supervision's document entitled Global systemically important banks: updated assessment methodology and the higher loss absorbency requirement. Affected banks are required to publicly disclose financial year-end data on an annual basis, no later than the date of their Q1 2015 public disclosure of shareholder financial data.



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.


Jeffrey S. Graham


Financial Services Sectors
Banking and Financial Services