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ARTICLE · 04 JULY 2017

Details Of Canada's Bail-in Regime Unveiled

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Following the 2008 financial crisis, a number of reforms to Canada's regulatory regime were made to address concerns about banks that are "too big to fail" - particularly, the risk that taxpayers will bear the cost of "bailing-out" such banks if they become non-viable.

CanadaFinance and Banking
Koker Christensen
Koker Christensen
Craig Bellefontaine
Craig Bellefontaine
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On June 16, 2017, the Department of Finance pre-published three new regulations critical to the implementation of Canada's bail-in regime, and the Office of the Superintendent of Financial Institutions ("OSFI") released draft guidance regarding total loss absorbing capacity ("TLAC") requirements. Comments on the proposed regulations and the draft TLAC Guideline are to be submitted by July 17, 2017.

The following regulations have been proposed (collectively, the "Regulations"):

  1. Bank Recapitalization (Bail-in) Conversion Regulations - this regulation would be made pursuant to the Canada Deposit Insurance Corporation Act ("CDIC Act") and would set out the scope of liabilities eligible to be bailed-in.

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