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    OSFI Publishes FAQs on Regulatory Adjustments Announced Amid COVID-19

    April 16, 2020

    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.

     

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    Keywords: Americas, Canada, Banks, Insurance, Securities, Pensions, FAQ, COVID-19, Basel III, Expected Credit Loss, Reporting, IFRS 9, OSFI

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