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ARTICLE · 29 APRIL 2020

COVID-19: New Measures Announced In Respect Of Basel Capital Framework

Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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Blake, Cassels & Graydon LLP

Blake, Cassels & Graydon LLP

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On April 4, 2020, the Basel Committee on Banking Supervision (Basel Committee) announced new measures aimed at alleviating the impact of COVID-19 on the global banking system.

CanadaCoronavirus (COVID-19)
Paul Belanger
Paul Belanger
Vladimir Shatiryan
Vladimir Shatiryan
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On April 4, 2020, the Basel Committee on Banking Supervision (Basel Committee) announced new measures aimed at alleviating the impact of COVID-19 on the global banking system. The Office of the Superintendent of Financial Institutions (OSFI), Canada's prudential banking regulator, welcomed the measures announced by the international standard-setting body and is considering how best to implement them in Canada. OSFI will communicate its expectations later this week.

The Basel Committee announced the following measures:

  • New technical clarifications provide guidance on the capital treatment of loans that are subject to government guarantees or payment deferrals offered in response to the COVID-19 outbreak. The Basel Committee notes that in determining whether a loan is past due or defaulting or is a nonperforming asset for credit risk weighting purposes, payment deferral periods relating to COVID-19 need not be counted towards days past due, and in considering

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