Pursuant to the July 13, 2020
statement from the Office of the Superintendent of Financial
Institutions (OSFI), OSFI's policy development work will
gradually resume in the fall of this year. Additional details
regarding the timelines and effected projects will be provided
throughout the summer and fall.
As a response to the COVID-19 pandemic, OSFI implemented several
response measures, including extending deadlines and suspending
consultations and policy development work in order to reduce
operational stress and ensure institutions had the capacity to
focus on most effectively responding to the pandemic and the
resulting uncertain market conditions. On March 27, 2020, OSFI
published details for federally regulated
insurers,
deposit-taking institutions and
private pension plans regarding the policy development projects
put on hold at that time.
