Featured Product

    OSFI Updates Manual of Reporting Forms and Instructions

    November 05, 2021

    The Office of the Superintendent of Financial Institutions (OSFI) has lifted the COVID-related temporary measures on dividends, share repurchases, and executive compensation. Institutions are now allowed to move back to regular dividend and executive compensation practices. OSFI also published remarks by the Superintendent Peter Routledge on lifting of restrictions on capital distribution. The institutions may once again repurchase shares, subject to the existing requirement for Superintendent approval. Additionally, OSFI has updated the manual of reporting forms and instructions for deposit-taking institutions and Canadian mortgage insurance companies.

    For deposit-taking institutions, changes have been made to the Financial Information Committee (FIC) regulatory forms and instructions. effective for 2022 filing:

    • Mortgage Loans Report (E2)
    • Interest Rate Risk (I3)
    • Standardized Institutions Risk Asset Portfolio Information—RAPID1 (RAPCORP)
    • IRB Credit Data Wholesale Transaction (BF)
    • IRB Credit Data Wholesale Transaction Defaulted and Fully Resolved (BG)
    • Wholesale IRB Credit Parameter Data Call (DT3)—New (replacing BP filing)
    • Retail IRB Credit Parameter Data Call (DT4)—New (replacing BO filing)
    • Basel Capital Adequacy Return (BCAR) (BA)—Instructions only
    • Interbank and Major Exposures Return (EB/ET)
    • Balance Sheet by Booking Location (Z4)
    • Collateral and Pledging Report (H4)
    • Geographic Assets & Liabilities Booked Outside Canada (GR) (to follow)
    • Geographic Assets & Liabilities Booked in Canada (GQ) (to follow)

    As part of this year’s annual housekeeping cycle, the Bank of Canada is also implementing a recurring metadata ad hoc data collection for domestic systemically important banks (D-SIBs) as a pilot project effective January 2022. By the end of 2022, a decision will be made on whether this new ad hoc data collection will become an official regulatory return or will be discontinued. Additionally, for Canadian mortgage insurance companies, OSFI has made minor changes to the manual of reporting forms and instructions; this includes changes to Section I on introduction, Section IV on detailed instructions, and Section V on jurisdictional requirements of the MI instructions effective for 2021. No changes have been made to the MI Annual Supplement (MI2) or Quarterly Return (MI1) for the fourth quarter 2021 or the first quarter of 2022. No changes have been made to the Mortgage Insurers Capital Adequacy Test (MICAT) instructions or the MICAT Quarterly Return effective first quarter of 2022. OSFI is also requesting Canadian mortgage insurance companies to file a copy of their annual Business Plan (OSFI-640) via the Regulatory Reporting System no later than 60 days after the fiscal year-end. The Business Plan should include a forecast of the Balance Sheet and the Mortgage Insurance Capital Adequacy Test as at year-end 2022 as well as the Income Statement for 2022. 

     

    Related Links

    Keywords: Americas, Canada, Banking, Reporting, COVID-19, Mortgage Insurance, Dividend Distribution, Basel, BCAR, D-SIBs, Credit Risk, Interest Rate Risk, IRB Approach, Standardized Approach, OSFI

    Featured Experts
    Related Articles
    News

    EBA Publishes Final Regulatory Standards on STS Securitizations

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.

    September 20, 2022 WebPage Regulatory News
    News

    ECB Further Reviews Costs and Benefits Associated with IReF

    The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.

    September 15, 2022 WebPage Regulatory News
    News

    BCBS to Finalize Crypto Rules by End-2022; US to Propose Basel 3 Rules

    The Basel Committee on Banking Supervision met, shortly after a gathering of the Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of BCBS.

    September 15, 2022 WebPage Regulatory News
    News

    IOSCO Welcomes Work on Sustainability-Related Corporate Reporting

    The International Organization of Securities Commissions (IOSCO) welcomed the work of the international audit and assurance standard setters—the International Auditing and Assurance Standards Board (IAASB)

    September 15, 2022 WebPage Regulatory News
    News

    EBA Publishes Funding Plans Report, Receives EMAS Certification

    The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).

    September 15, 2022 WebPage Regulatory News
    News

    MAS Launches SaaS Solution to Simplify Listed Entity ESG Disclosures

    The Monetary Authority of Singapore (MAS) set out the Financial Services Industry Transformation Map 2025 and, in collaboration with the SGX Group, launched ESGenome.

    September 15, 2022 WebPage Regulatory News
    News

    BoE Allows One-Day Delay in Statistical Data Submissions by Banks

    The Bank of England (BoE) published a Statistical Notice (2022/18), which informs that due to the Bank Holiday granted for Her Majesty Queen Elizabeth II’s State Funeral on Monday September 19, 2022.

    September 14, 2022 WebPage Regulatory News
    News

    ACPR Amends Reporting Module Timelines Under EBA Framework 3.2

    The French Prudential Control and Resolution Authority (ACPR) announced that the European Banking Authority (EBA) has updated its filing rules and the implementation dates for certain modules of the EBA reporting framework 3.2.

    September 14, 2022 WebPage Regulatory News
    News

    ECB Paper Discusses Disclosure of Climate Risks by Credit Agencies

    The European Central Bank (ECB) published a paper that examines how credit rating agencies accepted by the Eurosystem, as part of the Eurosystem Credit Assessment Framework (ECAF)

    September 13, 2022 WebPage Regulatory News
    News

    APRA to Modernize Prudential Architecture, Reduces Liquidity Facility

    The Australian Prudential Regulation Authority (APRA) announced reduction in the aggregate Committed Liquidity Facility (CLF) for authorized deposit-taking entities to ~USD 33 billion on September 01, 2022.

    September 12, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8514