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    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.

     

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

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