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ARTICLE · 06 FEBRUARY 2009

Recent Developments Related To Capital Applicable To Federally Regulated Financial Institutions

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There have been a number of recent changes and announcements relating to capital, primarily from the Office of the Superintendent of Financial Institutions (Canada) ("OSFI"). This article summarizes these developments.

CanadaFinance and Banking
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By Robert W. McDowell, Robert Elliott, Stephen B. Kerr, Koker Christensen, Kathleen E. Yoa, A. Wojtek Baraniak, Marvin Mikhail, Jared Gordon

There have been a number of recent changes and announcements relating to capital, primarily from the Office of the Superintendent of Financial Institutions (Canada) ("OSFI"). This Bulletin summarizes these developments.

These developments have come in the midst of a global financial and economic crisis. As a result of recent financial turmoil, Canadian financial institutions have suffered substantial losses and are seriously affected by the lack of liquidity in global markets. Nevertheless, Canadian financial institutions remain well capitalized and are weathering the storm better than many of their foreign counterparts. In this regard, it is noteworthy that the current targets for risk-based Tier 1 capital and total capital ratios have not increased and, based on recent comments made by the Superintendent of Financial

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