OSFI

Appointment of Peter Routledge as Superintendent of Financial Institutions

On June 24, the Minister of Finance announced that Peter Routledge was appointed as the new Superintendent of Financial Institutions. His term will begin on June 29.

Continue reading: Appointment of Peter Routledge as Superintendent of Financial Institutions

Industry consultation – Draft insurance capital guidelines 2023

The consultation process will help to refine the capital expectations that institutions will be required to meet upon implementation of IFRS 17.

Explanation of specific changes to each guideline, as well as how to make a submission, can be found in individual cover letters for each guideline.

Continue reading: Industry consultation – Draft insurance capital guidelines 2023

Remarks by Assistant Superintendent Ben Gully

Preserving Financial Resilience in Banking

"I want to reiterate that timely implementation of the Basel III reforms is central to OSFI's prudential priorities. The innovations related to capital, leverage, and liquidity regulation are essential to preserving financial resilience. At the same time, sound regulation needs to continue to be backed by strong supervision and appropriate public disclosures."

Continue reading: Remarks by Assistant Superintendent Ben Gully

OSFI launches consultation on enhanced assurance expectations

Today the Office of the Superintendent of Financial Institutions (OSFI) launched a ten-week consultation with the publication of a discussion paper, Assurance on Capital, Leverage and Liquidity Returns for federally regulated insurers and deposit-taking institutions.

OSFI FAQs on COVID-19 Related Measures

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Quick Links

Beware of email scammers posing as OSFI employees.

The Domestic Stability Buffer (DSB) is set at:
1.00%
of total risk-weighted assets,
however will be set to 2.50% of risk-weighted assets effective October 31, 2021

June 2021 News Release
Domestic Stability Buffer Backgrounder

Minimum Qualifying Rate for Uninsured Mortgages

Effective June 1, 2021, the minimum qualifying rate for uninsured mortgages is the greater of:
the mortgage contract rate plus 2% or 5.25%.

May 2021 News Release
Frequently Asked Questions

Recently Posted

2022 Actuarial Report on the Employment Insurance Premium Rate [ 2021-09-14 ]
Memoranda to the Appointed Actuary (Life Insurance and Property and Casualty Insurance) [ 2021-08-13 ]
OSFI issues updated requirements for technology and cyber incident reporting and new cyber self-assessment [ 2021-08-13 ]
Revisions to public disclosure requirement related to the identification of Global Systemically Important Banks [ 2021-08-13 ]
OSFI adjusts temporary exclusions from leverage ratio exposure measures; to take effect at end of 2021 [ 2021-08-12 ]
Presentation by Assia Billig, Chief Actuary, on Actuarial Valuations to the Board of Directors of PSP Investments [ 2021-08-12 ]
OSFI Risk Management Webcast for Life Insurers – Video Recording [ 2021-08-05 ]
Draft Pillar 3 Disclosure Guideline 2023 for SMSBs [ 2021-08-05 ]
OSFI Guideline Consequential Changes as a Result of IFRS 17 [ 2021-07-26 ]
FSRA/OSFI Defined Contribution (DC) Pension Plans Technical Advisory Committee – Meeting Summary –June 15, 2021 [ 2021-07-14 ]

About OSFI

The Office of the Superintendent of Financial Institutions (OSFI) is an independent agency of the Government of Canada, established in 1987 to contribute to the safety and soundness of the Canadian financial system. OSFI supervises and regulates federally registered banks and insurers, trust and loan companies, as well as private pension plans subject to federal oversight.

Why I am proud to work at OSFI!

Protecting Canada from a financial crisis
About OSFI
OSFI’s Supervisory Intervention Approach

Superintendent

Peter Routledge

About the Superintendent

Our Partners

OSFI works closely with its federal partners, including the Department of Finance, the Bank of Canada, the Canada Deposit Insurance Corporation and the Financial Consumer Agency of Canada.

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