Latest news with #OSFI
Globe and Mail
2 days ago
- Business
- Globe and Mail
Royal Bank of Canada to repurchase up to 35 million of its common shares
TORONTO, June 10, 2025 /CNW/ - Royal Bank of Canada (the Bank) (TSX: RY) (NYSE: RY) today announced that the Toronto Stock Exchange (TSX) and the Office of the Superintendent of Financial Institutions (OSFI) have approved its normal course issuer bid to purchase, for cancellation, up to 35 million of its common shares.
Yahoo
22-05-2025
- Business
- Yahoo
OSFI's Spring 2025 Quarterly Release: continuously working to ensure the safety and stability of Canada's financial system
OTTAWA, ON, May 22, 2025 /CNW/ - Today, as part of its Spring 2025 Quarterly Release Day, the Office of the Superintendent of Financial Institutions (OSFI) launched three consultations and made adjustments to a key guideline for life insurers. OSFI regularly reviews and updates its guidelines so that they continue to keep pace with changes to institutions' risk and operating environments. Consultations are important because they allow us to obtain the perspectives of stakeholders, industry, and the public. These practices, combined with OSFI's Policy Modernization initiative, ensure that OSFI guidance remains well-aligned while also providing predictability, transparency and reducing regulatory burden to stakeholders. The consultations and changes being announced today balance new innovations and modernization within the industry with sound supervisory oversight. This allows institutions to compete and take reasonable risks while also protecting depositors, creditors, and policyholders. At this time, OSFI is consulting on the following: Public consultation on the draft Liquidity Adequacy Requirements (LAR) Guideline OSFI is beginning a 60-day consultation on proposed changes to the LAR Guideline to enhance the stability of financial institutions and ensure they have enough liquid assets to meet their obligations to depositors and creditors even during challenging times. This includes proposed new funding categories for deposits involving non-bank financial intermediaries and for products such as structured notes, a type of deposit where returns are linked to the value of other securities. These proposed updates complement previous updates made on intraday liquidity in the LAR Guideline, including the introduction of a new Intraday Liquidity Regulatory Return, developed in collaboration with the Canadian Bankers Association. Public consultation on the Internal Liquidity Adequacy Assessment Process (ILAAP) discussion paper OSFI is launching a 90-day consultation on Pillar 2 liquidity and funding risk, with a discussion paper describing a more structured supervisory review process for liquidity risk in Canadian deposit-taking institutions, specifically, an ILAAP. OSFI has identified funding and liquidity as the most prevalent risks facing Canadian deposit-taking institutions. Public consultation on the draft Minimum Capital Test (MCT) Guideline OSFI is launching a 90-day public consultation on proposed changes to the MCT Guideline. OSFI is proposing to simplify the MCT guidance on insurance risk (specifically unexpired coverage). This is to ensure it is understood and interpreted consistently to address risk. OSFI also proposes updating regulatory adjustments to net assets available for insurance receivables and updating the capital confirmation requirements for user fees. OSFI is also announcing the following guidance changes: Regulatory Notice on Adjustments to the Life Insurance Capital Adequacy Test (LICAT) The Regulatory Notice outlines two important updates that enhance insurers flexibility in risk management and strengthens reinsurance oversight and transparency. The first removes the 5% cap on reduction in Tier 1 capital deduction with respect to stop-loss reinsurance. This gives insurers greater flexibility in capital management. This change aligns with principles-based regulation while maintaining robust oversight. The second ensures that the capital treatment for unregistered reinsurance of segregated fund guarantees aligns with other products. On June 6, 2025, OSFI will hold a virtual Industry Day on the items released and the opportunity to ask questions. Stakeholders are invited to register here. Quote "Today's announcements reflect our commitment to ensuring our guidance remains well-aligned with today's rapidly changing risk environment. Consulting with stakeholders is crucial to creating effective guidelines. Industry's input helps us better anticipate risks, adapt to change, and strengthen Canada's financial system. While Canada's liquidity regime is strong, regularly reviewing and updating OSFI's guidance will help make it even more resilient." Peter Routledge, Superintendent of Financial Institutions Quick facts OSFI's new guidance and consultations on proposed future guidance supports risks outlined in its Annual Risk Outlook and Semi-Annual Risk Outlook. The proposed revisions to the LAR Guideline (2026) build on the 2025 version of the Guideline. Comments received will inform updates to the Guideline, which will be published in January, 2026, for implementation in 2026. The final MCT will be published on November 20, 2025, and will come into effect on January 1, 2026. The final LICAT 2025 was published on November 20, 2024, and went into effect on January 1, 2025. The adjustments to LICAT take effect immediately and are expected to be incorporated into the next version of the LICAT Guideline. OSFI recently rescinded guidance to reduce regulatory burden, allowing OSFI and industry to focus on the right guidance, the right risks, at the right time. Related links Public consultation on the draft Liquidity Adequacy Requirements (LAR) Guideline (2026) Public consultation on the Internal Liquidity Adequacy Assessment Process (ILAAP) discussion paper Public consultation on the draft Minimum Capital Test (MCT) Guideline (2026) Regulatory Notice on Adjustments to the Life Insurance Capital Adequacy Test (LICAT) (2025) Amar Munipalle, Executive Director, Risk Advisory Hub, delivers remarks for OSFI's Spring 2025 Quarterly Release Day Register for Industry Day SOURCE Office of the Superintendent of Financial Institutions View original content to download multimedia:
Cision Canada
22-05-2025
- Business
- Cision Canada
OSFI's Spring 2025 Quarterly Release: continuously working to ensure the safety and stability of Canada's financial system Français
OTTAWA, ON, May 22, 2025 /CNW/ - Today, as part of its Spring 2025 Quarterly Release Day, the Office of the Superintendent of Financial Institutions (OSFI) launched three consultations and made adjustments to a key guideline for life insurers. OSFI regularly reviews and updates its guidelines so that they continue to keep pace with changes to institutions' risk and operating environments. Consultations are important because they allow us to obtain the perspectives of stakeholders, industry, and the public. These practices, combined with OSFI's Policy Modernization initiative, ensure that OSFI guidance remains well-aligned while also providing predictability, transparency and reducing regulatory burden to stakeholders. The consultations and changes being announced today balance new innovations and modernization within the industry with sound supervisory oversight. This allows institutions to compete and take reasonable risks while also protecting depositors, creditors, and policyholders. At this time, OSFI is consulting on the following: Public consultation on the draft Liquidity Adequacy Requirements (LAR) Guideline OSFI is beginning a 60-day consultation on proposed changes to the LAR Guideline to enhance the stability of financial institutions and ensure they have enough liquid assets to meet their obligations to depositors and creditors even during challenging times. This includes proposed new funding categories for deposits involving non-bank financial intermediaries and for products such as structured notes, a type of deposit where returns are linked to the value of other securities. These proposed updates complement previous updates made on intraday liquidity in the LAR Guideline, including the introduction of a new Intraday Liquidity Regulatory Return, developed in collaboration with the Canadian Bankers Association. Public consultation on the Internal Liquidity Adequacy Assessment Process (ILAAP) discussion paper OSFI is launching a 90-day consultation on Pillar 2 liquidity and funding risk, with a discussion paper describing a more structured supervisory review process for liquidity risk in Canadian deposit-taking institutions, specifically, an ILAAP. OSFI has identified funding and liquidity as the most prevalent risks facing Canadian deposit-taking institutions. Public consultation on the draft Minimum Capital Test (MCT) Guideline OSFI is launching a 90-day public consultation on proposed changes to the MCT Guideline. OSFI is proposing to simplify the MCT guidance on insurance risk (specifically unexpired coverage). This is to ensure it is understood and interpreted consistently to address risk. OSFI also proposes updating regulatory adjustments to net assets available for insurance receivables and updating the capital confirmation requirements for user fees. OSFI is also announcing the following guidance changes: Regulatory Notice on Adjustments to the Life Insurance Capital Adequacy Test (LICAT) The Regulatory Notice outlines two important updates that enhance insurers flexibility in risk management and strengthens reinsurance oversight and transparency. The first removes the 5% cap on reduction in Tier 1 capital deduction with respect to stop-loss reinsurance. This gives insurers greater flexibility in capital management. This change aligns with principles-based regulation while maintaining robust oversight. The second ensures that the capital treatment for unregistered reinsurance of segregated fund guarantees aligns with other products. On June 6, 2025, OSFI will hold a virtual Industry Day on the items released and the opportunity to ask questions. Stakeholders are invited to register here. Quote "Today's announcements reflect our commitment to ensuring our guidance remains well-aligned with today's rapidly changing risk environment. Consulting with stakeholders is crucial to creating effective guidelines. Industry's input helps us better anticipate risks, adapt to change, and strengthen Canada's financial system. While Canada's liquidity regime is strong, regularly reviewing and updating OSFI's guidance will help make it even more resilient." Peter Routledge, Superintendent of Financial Institutions Quick facts OSFI's new guidance and consultations on proposed future guidance supports risks outlined in its Annual Risk Outlook and Semi-Annual Risk Outlook. The proposed revisions to the LAR Guideline (2026) build on the 2025 version of the Guideline. Comments received will inform updates to the Guideline, which will be published in January, 2026, for implementation in 2026. The final MCT will be published on November 20, 2025, and will come into effect on January 1, 2026. The final LICAT 2025 was published on November 20, 2024, and went into effect on January 1, 2025. The adjustments to LICAT take effect immediately and are expected to be incorporated into the next version of the LICAT Guideline. OSFI recently rescinded guidance to reduce regulatory burden, allowing OSFI and industry to focus on the right guidance, the right risks, at the right time.
Yahoo
22-05-2025
- Business
- Yahoo
OSFI's Spring 2025 Quarterly Release: continuously working to ensure the safety and stability of Canada's financial system
OTTAWA, ON, May 22, 2025 /CNW/ - Today, as part of its Spring 2025 Quarterly Release Day, the Office of the Superintendent of Financial Institutions (OSFI) launched three consultations and made adjustments to a key guideline for life insurers. OSFI regularly reviews and updates its guidelines so that they continue to keep pace with changes to institutions' risk and operating environments. Consultations are important because they allow us to obtain the perspectives of stakeholders, industry, and the public. These practices, combined with OSFI's Policy Modernization initiative, ensure that OSFI guidance remains well-aligned while also providing predictability, transparency and reducing regulatory burden to stakeholders. The consultations and changes being announced today balance new innovations and modernization within the industry with sound supervisory oversight. This allows institutions to compete and take reasonable risks while also protecting depositors, creditors, and policyholders. At this time, OSFI is consulting on the following: Public consultation on the draft Liquidity Adequacy Requirements (LAR) Guideline OSFI is beginning a 60-day consultation on proposed changes to the LAR Guideline to enhance the stability of financial institutions and ensure they have enough liquid assets to meet their obligations to depositors and creditors even during challenging times. This includes proposed new funding categories for deposits involving non-bank financial intermediaries and for products such as structured notes, a type of deposit where returns are linked to the value of other securities. These proposed updates complement previous updates made on intraday liquidity in the LAR Guideline, including the introduction of a new Intraday Liquidity Regulatory Return, developed in collaboration with the Canadian Bankers Association. Public consultation on the Internal Liquidity Adequacy Assessment Process (ILAAP) discussion paper OSFI is launching a 90-day consultation on Pillar 2 liquidity and funding risk, with a discussion paper describing a more structured supervisory review process for liquidity risk in Canadian deposit-taking institutions, specifically, an ILAAP. OSFI has identified funding and liquidity as the most prevalent risks facing Canadian deposit-taking institutions. Public consultation on the draft Minimum Capital Test (MCT) Guideline OSFI is launching a 90-day public consultation on proposed changes to the MCT Guideline. OSFI is proposing to simplify the MCT guidance on insurance risk (specifically unexpired coverage). This is to ensure it is understood and interpreted consistently to address risk. OSFI also proposes updating regulatory adjustments to net assets available for insurance receivables and updating the capital confirmation requirements for user fees. OSFI is also announcing the following guidance changes: Regulatory Notice on Adjustments to the Life Insurance Capital Adequacy Test (LICAT) The Regulatory Notice outlines two important updates that enhance insurers flexibility in risk management and strengthens reinsurance oversight and transparency. The first removes the 5% cap on reduction in Tier 1 capital deduction with respect to stop-loss reinsurance. This gives insurers greater flexibility in capital management. This change aligns with principles-based regulation while maintaining robust oversight. The second ensures that the capital treatment for unregistered reinsurance of segregated fund guarantees aligns with other products. On June 6, 2025, OSFI will hold a virtual Industry Day on the items released and the opportunity to ask questions. Stakeholders are invited to register here. Quote "Today's announcements reflect our commitment to ensuring our guidance remains well-aligned with today's rapidly changing risk environment. Consulting with stakeholders is crucial to creating effective guidelines. Industry's input helps us better anticipate risks, adapt to change, and strengthen Canada's financial system. While Canada's liquidity regime is strong, regularly reviewing and updating OSFI's guidance will help make it even more resilient." Peter Routledge, Superintendent of Financial Institutions Quick facts OSFI's new guidance and consultations on proposed future guidance supports risks outlined in its Annual Risk Outlook and Semi-Annual Risk Outlook. The proposed revisions to the LAR Guideline (2026) build on the 2025 version of the Guideline. Comments received will inform updates to the Guideline, which will be published in January, 2026, for implementation in 2026. The final MCT will be published on November 20, 2025, and will come into effect on January 1, 2026. The final LICAT 2025 was published on November 20, 2024, and went into effect on January 1, 2025. The adjustments to LICAT take effect immediately and are expected to be incorporated into the next version of the LICAT Guideline. OSFI recently rescinded guidance to reduce regulatory burden, allowing OSFI and industry to focus on the right guidance, the right risks, at the right time. Related links Public consultation on the draft Liquidity Adequacy Requirements (LAR) Guideline (2026) Public consultation on the Internal Liquidity Adequacy Assessment Process (ILAAP) discussion paper Public consultation on the draft Minimum Capital Test (MCT) Guideline (2026) Regulatory Notice on Adjustments to the Life Insurance Capital Adequacy Test (LICAT) (2025) Amar Munipalle, Executive Director, Risk Advisory Hub, delivers remarks for OSFI's Spring 2025 Quarterly Release Day Register for Industry Day SOURCE Office of the Superintendent of Financial Institutions View original content to download multimedia: Sign in to access your portfolio
Cision Canada
21-05-2025
- Business
- Cision Canada
/R E P E A T -- Media advisory - Media announcement for OSFI's Spring Quarterly Release Day Français
OTTAWA, ON, May 20, 2025 /CNW/ - On Thursday, May 22, 2025, Amar Munipalle, Executive Director of the Risk Advisory Hub at the Office of the Superintendent of Financial Institutions (OSFI), will speak to the measures published during OSFI's Quarterly Release Day. Mr. Munipalle will hold a question-and-answer session with reporters following his remarks. The release items will include public consultations on the: Internal Liquidity Adequacy Assessment Process (ILAAP) discussion paper Draft Liquidity Adequacy Requirements (LAR) Guideline (2026) Draft Minimum Capital Test (MCT) Guideline (2026) A policy update: Regulatory Notice on Adjustments to the Life Insurance Capital Adequacy Test (LICAT) (2025) What: Media announcement, including a Q&A Time: Thursday, May 22, 2025, 10:00 a.m. to 10:45 a.m. ET Where: Via Zoom Registration: Reporters can register for this announcement by emailing [email protected] by May 21, 2025, at 5:00 p.m. ET. OSFI will provide videoconference login instructions upon registration.
