May 28, 2018

OSFI issued final versions of its guidelines on total loss-absorbing capacity (TLAC) disclosure requirements and capital disclosure requirements. The guidelines set out the TLAC disclosure requirements for Canadian domestic systemically important banks, or D-SIBs, (including any designated Canadian G-SIBs). D-SIBs must publicly disclose the TLAC information commencing with the quarterly reporting period ending January 31, 2019.

The purpose of the TLAC requirements is to provide a non-viable D-SIB with sufficient loss-absorbing capacity to support its recapitalization. The guideline on TLAC Disclosure Requirements incorporates the TLAC disclosure templates published in the BCBS Pillar 3 Disclosure Requirements, which were issued in March 2017 (also referred to as Phase II of Pillar 3). The disclosures outlined in this guideline complement TLAC guideline of OSFI, which was issued in April 2018.

The guideline on Capital Disclosure Requirements, which applies to all federally regulated deposit-taking institutions, has been also updated. The amendments to this guideline reflect the disclosure of TLAC holdings and the removal of previous transitional guidance that is no longer applicable as of January 01, 2018.

 

Related Link: Notification and Guidelines

Effective Date: November 2018/January 2019 (depending on fiscal year end)

Keywords: Americas, Canada, Banking, TLAC, Disclosures, D-SIBs, OSFI

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