Featured Product

    OSFI Outlines Prudential Policy Priorities for Coming Months

    May 06, 2021

    OSFI has set out the near-term priorities for federally regulated financial institutions and federally regulated private pension plans for the coming months until March 31, 2022. The key focus areas include implementation of the internationally agreed Basel III reforms, finalization of capital and liquidity guidance for small and medium-size banks, and issuance of guidance and consultations on climate risk, operational resilience, technology and cyber risk, and culture risk.

    Next week, OSFI plans to release a letter summarizing feedback from the discussion paper on technology risk and setting out future guidance initiatives. In the first quarter of 2022, OSFI plans to publish draft of revised guideline on third-party risk, an industry letter on advanced analytics and model risk, and a consultative document on culture and reputation risk. OSFI intends to publish a discussion paper and draft guideline on the assurance of capital, leverage, and liquidity returns in the second and fourth quarters of 2021, respectively, with the publication of the final guideline on assurance of capital, leverage, and liquidity returns expected in the first quarter of 2022. Then, in the second quarter of 2021, OSFI plans to publish: 

    • draft expectations for data maintenance for institutions that are using the Standardized Approach for operational risk under Chapter 3 of the Capital Adequacy Requirements Guideline.
    • advisory regarding implementation of the disclosure requirements on global systemically important bank (G-SIB) indicators in Canada.
    • draft guideline that proposes changes related to credit valuation adjustment (CVA) risk.

    Next, in the third quarter of 2021, OSFI plans to launch:

    • proposal for future climate risk initiatives and summarize the feedback received on climate risk discussion paper that was issued in the first quarter of 2021.
    • consultation on integrating into OSFI guidance the new BCBS Principles for Sound Management of Operational Risk and the Principles for Operational Resilience.
    • draft guideline that outlines a more proportional set of Pillar 3 disclosure requirements for small and medium-size banks, with the final guideline expected to be published in the fourth quarter of 2021.
    • a survey intended to inform potential future revisions to processes and guidance of OSFI for Pillar 2 capital and liquidity expectations for small and medium-size banks.

    Finally, in the fourth quarter of 2021, OSFI plans to publish:

    • final guidelines on domestic implementation of the Basel III Reform Package, including the guidance for credit, operational, market, and CVA risks; output floor; leverage ratio; definition of capital; and Pillar 3 disclosures.
    • draft guideline that sets out expectations for technology and cyber risk management.

     

    Related Links

    Keywords: Americas, Canada, Banking, Basel, Credit Risk, Market Risk, Operational Risk, Cyber Risk, Technology Risk, Regulatory Capital, SME, Proportionality, Climate Change Risk, Pillar 3, CVA Risk, OSFI

    Featured Experts
    Related Articles
    News

    US Agencies Issue Regulatory Updates, FDIC Launches Tech Sprint

    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.

    January 13, 2022 WebPage Regulatory News
    News

    EBA Issues Guide on Bank Resolvability, Consults on Transferability

    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).

    January 13, 2022 WebPage Regulatory News
    News

    MFSA Publishes CRD5 Updates and Supervisory Priorities for 2022

    The Malta Financial Services Authority (MFSA) updated the guidelines on supervisory reporting requirements under the reporting framework 3.0.

    January 13, 2022 WebPage Regulatory News
    News

    HKMA Extends Repayment for Trade Facilities, Consults on Crypto-Assets

    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.

    January 12, 2022 WebPage Regulatory News
    News

    FCA Registers Securitization Repositories; PRA Issues 2022 Priorities

    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.

    January 12, 2022 WebPage Regulatory News
    News

    EC Regulation Sets Out Methods for Measuring K-Factors Under IFR

    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.

    January 11, 2022 WebPage Regulatory News
    News

    BIS Studies How Platform Models Impact Financial Stability & Inclusion

    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.

    January 10, 2022 WebPage Regulatory News
    News

    CBE Issues Additional Measures to Ease Disruptions from Pandemic

    The Central Bank of Egypt (CBE) published a circular with instructions on emergency liquidity assistance to banks that are unable to meet their liquidity requirements.

    January 10, 2022 WebPage Regulatory News
    News

    ESAs Publish List of Financial Conglomerates for 2021

    The European Supervisory Authorities (ESAs) published the list of identified financial conglomerates for 2021.

    January 07, 2022 WebPage Regulatory News
    News

    APRA Licenses Two More Banks, Reduces Committed Liquidity Facility

    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.

    January 07, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 7866