Canada reviews bank assessment measures

Canada reviews bank assessment measures

A Canadian regulator has launched an industry consultation on its review of regulations that impact all federally regulated financial institutions.

Such institutions include banks, authorised foreign banks, trust and loan companies, and cooperative credit associations which are collectively known as federally regulators entities (FREs).

The aim of the review, led by the Office of the Superintendent of Financial Institutions Canada (OSFI), is to consider how the regulator may allocate assessment expenses in a way that would more closely reflect the time and resources spent supervising and regulations each institution.

The consultation paper gives a brief overview of the assessment methodology for these institutions  and proposes new measures.
Industry participants are invited to comment until November 29.

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