OSFI published a suite of frequently asked questions (FAQs) relevant for federally regulated deposit-taking institutions, financial institutions, insurance companies, and private pension plans. The FAQs address common questions on the series of regulatory adjustments announced recently to support the financial and operational resilience of these entities, in light of the COVID-19 outbreak.
The FAQs for deposit-taking institutions address issues related to capital requirements, payment deferrals, capital treatment of expected credit losses, calculation of market risk capital requirements, leverage ratio and margin requirements, timeline for domestic implementation of Basel III standards, management of liquidity and interest rate risk in the banking book, covered bonds, and stress testing. The FAQS for federally regulated financial institutions cover, among others, aspects of regulatory reporting requirements and the recent measures taken to offer flexibility to meet upcoming deadlines for filing regulatory returns. The FAQs will be updated regularly to reflect any new measures announced.
- Press Release
- FAQs for Banks
- FAQs for Financial Institutions
- FAQs for Insurers
- FAQs for Pension Plans
Keywords: Americas, Canada, Banks, Insurance, Securities, Pensions, FAQ, COVID-19, Basel III, Expected Credit Loss, Reporting, IFRS 9, OSFI
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The Board of Governors of the Federal Reserve System (FED) published the final rule that amends Regulation I to reduce the quarterly reporting burden for member banks by automating the application process for adjusting their subscriptions to the Federal Reserve Bank capital stock, except in the context of mergers.
The European Banking Authority (EBA) published its assessment of risks through the quarterly Risk Dashboard and the results of the Autumn edition of the Risk Assessment Questionnaire (RAQ).
The Hong Kong Monetary Authority (HKMA) published a circular, along with the reporting form and instructions, for self-assessment, by authorized institutions, of compliance with the Code of Banking Practice 2021.
The Financial Conduct Authority (FCA) decided to register European DataWarehouse Ltd and SecRep Limited as securitization repositories under the UK Securitization Regulation, with effect from January 17, 2022.
The European Commission (EC) published the Delegated Regulation 2022/25, which supplements the Investment Firms Regulation (IFR or Regulation 2019/2033) with respect to the regulatory technical standards specifying the methods for measuring the K-factors referred to in Article 15 of the IFR.
The Bank of International Settlements (BIS) published a paper that assesses the ways in which platform-based business models can affect financial inclusion, competition, financial stability and consumer protection.
The European Supervisory Authorities (ESAs) published the list of identified financial conglomerates for 2021.
The Australian Prudential Regulation Authority (APRA) updated the list of authorized deposit-taking institutions, granting license to Barclays Bank PLC and Crédit Agricole Corporate and Investment Bank to operate as foreign authorized deposit-taking institutions under the Banking Act 1959.
EU published, in the Official Journal of the European Union, a corrigendum to the Delegated Regulation 2015/35, which supplements Solvency II Directive (2009/138/EC).
The European Banking Authority (EBA) published an Opinion on the scale and impact of de-risking in European Union and the steps that competent authorities should take to tackle unwarranted de-risking.