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ARTICLE · 07 MAY 2020

OSFI Announces Continued Regulatory Flexibility Measures In Response To COVID-19

Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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On April 9, 2020, the Office of the Superintendent of Financial Institutions (OSFI) announced further measures to support the financial and operational resilience of Canada's federally regulated...

CanadaFinance and Banking
Paul Belanger
Paul Belanger
Ora Morison
Ora Morison
Vladimir Shatiryan
Vladimir Shatiryan
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On April 9, 2020, the Office of the Superintendent of Financial Institutions (OSFI) announced further measures to support the financial and operational resilience of Canada's federally regulated financial institutions as they respond to the challenges of COVID-19. The announcement sets out sector-specific guidance focused primarily on measures to support lending in the current environment and provides for certain regulatory filing extensions.

This latest announcement follows OSFI's earlier sector-specific guidance issued on March 27, 2020, a directive published on March 30, 2020 on the treatment of new capital available to small- and medium-sized enterprises through recently announced government programs, and OSFI's decision on March 13, 2020 to lower the domestic stability buffer for Canada's systemically important banks. For more detail on OSFI's previously announced measures, see our earlier Blakes Bulletins: OSFI Announces Immediate Measures in Response

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