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ARTICLE · 04 JUNE 2024

Annual OSFI Risk Outlook

Borden Ladner Gervais LLP
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Earlier this month, the Office of the Superintendent of Financial Institutions (OSFI) released its annual risk outlook for 2024 to 2025.

CanadaFinance and Banking
AUM Law
AUM Law
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Earlier this month, the Office of the Superintendent of Financial Institutions (OSFI) released its annual risk outlook for 2024 to 2025. Each year, OFSI releases this report, which provides an overview of the current risk environment facing the Canadian financial system. This year, the following items were identified as priority risks:

Real Estate Secured Lending and Mortgage Risks

This risk relates to the high percentage of mortgages that are coming up for renewal prior to the end of 2026 in a much higher interest rate environment. OSFI expects payment increases to lead to higher residential mortgage arrears or defaults, with variable rate mortgages with fixed payments being of specific concern. It is also noted that loan-to-income and loan-to-value ratios of new mortgage originations are at almost record low levels.

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