OSFI Releases Annual Report 2021-2022 - Moody's Analytics

The Office of the Superintendent of Financial Institutions (OSFI) released the annual report for 2020-2021. 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Anotabledeliverableduringtheyear,wastheMarch2021publicconsultationonrevisionsto the CapitalAdequacyRequirements(CAR)Guideline,theLeverageRequirements(LR)Guideline, and theLiquidityAdequacyRequirements(LAR)Guideline, withaviewtoimplementingthesechangesinearly2023.TheproposedrevisionstotheCARandLRguidelinesreflectthedomesticimplementationofthefinalBaselIIIreforms.Allthreeguidelinesalsoincludeproposedrevisionstoreflectspecificcapitalandliquidityrequirementsforsmallandmedium-sizedinstitutions(SMSBs). InMarch2021,OSFIalsoreleasedadraft SMSBCapitalandLiquidityGuideline tohelpstakeholdersunderstandhowtheCAR,LRandLARguidelinesapplytoSMSBsincludingdeposit-takingsubsidiariesofD-SIBs.Overthecomingyear,OSFIplansto: advanceitsunderstandingofclimate-relatedrisksandwillreleaseasummaryofcommentsreceivedduringtheclimate-relatedriskconsultations,alongwiththenextstepsinthisareaforthe2021-22fiscalyear. continuetofocusonassessinghowinstitutionsuseandmanageartificialintelligence/machinelearningaswellasdevelopingadditionalprinciplestoaddressemergingrisksresultingfromtheiruse;thiswillbeusedtoinformanindustryletteronadvancedanalyticsandmodelriskandarevisedmodelriskguideline,whicharetobepublishedinthefirstquarterof2022and2022-23,respectively. launchacomprehensivereviewof GuidelineE-13(ComplianceManagement)in2022.Earlier,inOctober2020,OSFIhadlaunchedaconsultationonthesupervisoryactivitiesrelatedtoanti-moneylaundering/anti-terroristfinancing(AML/ATF),consequenttowhich,onMay17,2021—slightlyaftertheperiodcoveredbythisannualreport—OSFIannouncedthatitwillrescindGuidelineB-8(Deterring&DetectingMoneyLaunderingandTerroristFinancing),effectiveJuly26,2021.   RelatedLinks NewsRelease AnnualReport2020-2021 2019-2022OSFIStrategicPlan Keywords:Americas,Canada,Banking,MortgageInsurance,Basel,RegulatoryCapital,LiquidityRisk,SMSBs,D-SIBs,ComplianceRisk,ClimateChangeRisk,ESG,AML/CFT,Regtech,ModelingRisk,CreditRisk,PredictiveAnalytics,OSFI MaríaCañamero Skilledmarketresearcher;growthstrategist;successfulgo-to-marketcampaigndeveloper NicolasDegruson Workswithfinancialinstitutions,regulatoryexperts,businessanalysts,productmanagers,andsoftwareengineerstodriveregulatorysolutionsacrosstheglobe. PatrycjaOleksza Appliesproficiencyandknowledgetoregulatorycapitalandreportinganalysisandcoordinatesbusinessandproductstrategiesinthebankingtechnologyarea ViewRelatedExperts PreviousArticle ECDefersAdoptionofRegulatoryStandardsforDisclosuresUnderSFDR NextArticle OSFIUpdatesTimelineforImplementationofCertainBaselRules News FDICPublishesDraftPrinciplesonClimate-RelatedFinancialRisks TheFederalDepositInsuranceCorporation(FDIC)isconsultingonthestatementonprinciplesforthemanagementofclimateriskbylargefinancialinstitutions,withcommentperiodendingonJune3,2022. April04,2022 WebPage RegulatoryNews News ISSBProposesStandardsonSustainabilityandClimateDisclosures TheInternationalSustainabilityStandardsBoard(ISSB)proposedgeneralsustainability-relateddisclosurerequirementsandtheclimate-relateddisclosurerequirements. 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March30,2022 WebPage RegulatoryNews News OSFIStatementsAddressBCAR,CultureRiskManagementandDEIStrategy TheOfficeoftheSuperintendentofFinancialInstitutions(OSFI)isseekingcommentsoneffectivecultureriskmanagement,setoutexpectationsforInternalCapitalAdequacyAssessmentProcess(ICAAP)submission March28,2022 WebPage RegulatoryNews News IOSCOReportDiscussRegulatoryImplicationsofDecentralizedFinance TheInternationalOrganizationofSecuritiesCommissions(IOSCO)publishedareportthatoffersageneralunderstandingofdecentralizedfinance,includingtheareasofpotentialregulatoryconcern. March24,2022 WebPage RegulatoryNews RESULTS1-10OF8058 RequestMoreInformationMeetOurExperts