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ARTICLE · 22 MARCH 2021

OSFI Launches Consultations On Basel III Implementation And Updates To Pillar 3 Disclosure Guideline

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On March 11, the Office of the Superintendent of Financial Institutions released proposed revisions to its capital, leverage and related disclosure guidelines for banks for public comment until June 4, 2021.

CanadaFinance and Banking
Blair Keefe
Blair Keefe
Eli Monas
Eli Monas
Hailey Schnier
Hailey Schnier
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On March 11, the Office of the Superintendent of Financial Institutions (OSFI) released proposed revisions to its capital, leverage and related disclosure guidelines (the Guidelines) for banks for public comment until June 4, 20211. These changes seek to implement the final Basel III reforms set by the Basel Committee on Banking Supervision (BCBS)2, while catering such reforms to the unique characteristics of the Canadian market.

OSFI is also proposing changes to enhance proportionality in its capital and liquidity regimes so they remain appropriate for smaller, less-complex banks. In connection therewith, OSFI released a draft SMSB Capital and Liquidity Requirements Guideline for public consultation until June 4, 2021, which is a new guideline that outlines revisions to the capital and liquidity frameworks for small and medium-sized deposit taking institutions (SMSBs)3.

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