Featured Product

    OSFI Updates Implementation Timelines for Regulatory Returns of Banks

    June 08, 2020

    OSFI announced changes to the 2020 regulatory return implementation timelines for banks, in light of the recent developments. Nevertheless, the regulatory return implementations for the Standardized Institutions Risk Asset Portfolio Information (RAPID1), the IRB Credit Data Wholesale Transaction (BF), and Mortgage Loans (E2) will continue as scheduled for the first quarter of 2021. Furthermore, any return changes that were under consideration for implementation in fiscal 2021 will be deferred to fiscal 2022.

    The following changes have been announced:

    • Interbank and Major Exposures Return (EB/ET 2L)—Formal reporting postponed from third quarter of 2020 to the first quarter of 2021. Additionally, the test data submission scheduled for the second quarter of 2020 will be postponed to the fourth quarter of 2020.
    • HELOC return (J2)—Formal reporting postponed from September 30, 2020 to March 31, 2021. Deposit-taking institutions will be expected to participate in an ad-hoc test based on September 2020 data to be submitted by November 15, 2020.
    • Trading Income & GoC Securities Trading Income Return (A3)—Formal reporting postponed from the first quarter of 2021 to the first quarter of 2022. Additionally, test data will be postponed from the second quarter of 2020 to the fist quarter of 2021.
    • Net Stable Funding Ratio Return (DT1)—Formal reporting postponed from the third quarter of 2020 to the first quarter of 2021 and will be subject to Late and Erroneous Filing Penalties (LEFP). Deposit-taking institutions will be expected to formally resubmit all four 2020 quarterly filings in the first quarter of 2021 without penalty.

     

    Related Links

    Keywords: Americas, Canada, Banking, Reporting, Basel, Rapid1, Mortgage Loans, IRB, NSFR, Credit Risk, COVID-19, OSFI

    Featured Experts
    Related Articles
    News

    EBA Publishes Regulatory Standards to Identify Shadow Banking Entities

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying the criteria to identify shadow banking entities for the purposes of reporting large exposures.

    May 23, 2022 WebPage Regulatory News
    News

    EU Agencies Update LCR Rule and Macro-Prudential Policy Recommendation

    The European Commission (EC) published the Delegated Regulation 2022/786 with regard to the liquidity coverage requirements for credit institutions under the Capital Requirements Regulation (CRR).

    May 23, 2022 WebPage Regulatory News
    News

    OSFI Discusses Benchmark Rate Transition, Sets Out Work Priorities

    The Office of the Superintendent of Financial Institutions (OSFI) published the strategic plan for 2022-2025 and the departmental plan for 2022-23.

    May 17, 2022 WebPage Regulatory News
    News

    EBA Proposes Standards to Support Secondary NPL Markets

    The European Banking Authority (EBA) is consulting, until August 31, 2022, on the draft implementing technical standards specifying requirements for the information that sellers of non-performing loans (NPLs) shall provide to prospective buyers.

    May 17, 2022 WebPage Regulatory News
    News

    EU Confirms Agreement on Rules on Cybersecurity and Banking Resolution

    The European Council and the Parliament reached an agreement on the revised Directive on security of network and information systems (NIS2 Directive).

    May 13, 2022 WebPage Regulatory News
    News

    EBA Issues Standards for Crowdfunding Service Providers Under ECSPR

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying information that crowdfunding service providers shall provide to investors on the calculation of credit scores and prices of crowdfunding offers.

    May 13, 2022 WebPage Regulatory News
    News

    EU to Amend Credit Risk Adjustment Rules; ESAs Submit Queries on SFDR

    The European Council published a draft Commission Delegated Regulation to amend the regulatory technical standards on specification of the calculation of specific and general credit risk adjustments.

    May 13, 2022 WebPage Regulatory News
    News

    EU Confirms Agreement on Rules on Cybersecurity and Banking Resolution

    The European Securities and Markets Authority (ESMA) published a paper that examines the systemic risk posed by increasing use of cloud services, along with the potential policy options to mitigate this risk.

    May 12, 2022 WebPage Regulatory News
    News

    MAS Amends Notice 635 and Issues Second Proposal on Green Taxonomy

    The Monetary Authority of Singapore (MAS) published amendments to Notice 635, which sets out requirements that a bank in Singapore has to comply with when granting an unsecured non-card credit facility to individuals.

    May 12, 2022 WebPage Regulatory News
    News

    EC Consults on PSD2 and Open Finance; EU Reaches Agreement on DORA

    The European Commission (EC) published a public consultation on the review of revised payment services directive (PSD2) and open finance.

    May 11, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8201