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
Scott is a Director in the Regulatory and Accounting Solutions team responsible for providing accounting expertise across solutions, products, and services offered by Moody’s Analytics in the US. He has over 15 years of experience leading auditing, consulting and accounting policy initiatives for financial institutions.
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