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ARTICLE · 28 APRIL 2020

COVID-19 Impact: OSFI Capital And Regulatory Reporting Update

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In light of the operational and financial impact of COVID-19 on federally regulated financial institutions (FRFIs), the Office of the Superintendent of Financial Institutions (OSFI) announced new measures on April 9, 2020...

CanadaInsurance
Brian Reeve
Brian Reeve
Marisa Coggin
Marisa Coggin
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In light of the operational and financial impact of COVID-19 on federally regulated financial institutions (FRFIs), the Office of the Superintendent of Financial Institutions (OSFI) announced new measures on April 9, 2020 relating to capital adequacy requirements and reporting requirements. The measures are largely intended to support the operational and financial resilience of FRFIs impacted by the economic disruption caused by the outbreak. Many of the most important new measures are applicable only to banks and other deposit-taking institutions. This article will focus on the measures that are applicable to federally regulated property and casualty insurers and life insurers (collectively, "insurers").

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