OSFI's Quarterly Release: Smart Oversight to support economic growth

Office of the Superintendent of Financial Institutions

OTTAWA, ON, Nov. 20, 2025 /CNW/ - Today, the Office of the Superintendent of Financial Institutions (OSFI) published the following as part of its Quarterly Release:

• Consultation on draft Capital Adequacy Requirements (CAR) Guideline (2027) : OSFI is launching a 90-day public consultation to the capital requirements for credit risk. This aligns capital requirements to better reflect risks faced by financial institutions while freeing capacity for banks to extend credit and support growth.
  
  
• Final Minimum Capital Test (MCT) Guideline (2026) : The new Guideline, which will come into force on January 1, 2026, simplifies the unexpired coverage formula, clarifies how property and casualty insurance companies hold capital for their foreign branches, updates capital confirmation requirements, and makes minor adjustments to the application of the framework. These changes improve and modernize the capital requirements so they can be applied efficiently and consistently.
  
  
• Rescinding or removing documents from the guidance library : OSFI is rescinding or removing 32 additional documents from its guidance library by December 31, 2025. In total OSFI has eliminated 52 documents representing more than 600 pages of content in both English and French since starting this initiative 18 months ago.
  
  
• Supervisory Framework Renewal Post-Implementation Report : This report focuses on evaluating OSFI's new Supervisory Framework since implementation in April 2024. The review outlines how the framework is working in practice, gathers feedback from stakeholders, and identifies areas for improvement.
  
  
• Insights from the 2025 Climate Risk Returns and updated returns : This year, Canada's six systemically important banks and four internationally active insurance groups were the first institutions to file standardized reporting forms to collect climate-related financial data. The lessons learned report shares OSFI's insights from the submissions and outlines future amendments.

This Quarterly Release highlights how OSFI is advancing smart oversight and regulatory efficiency. This approach targets material risks, streamlines requirements, and anticipates emerging risks. By reducing unnecessary burden, OSFI helps preserve the safety and soundness of the financial system while enabling institutions to focus on lending, investment, and economic growth.

Quote

"Over the past 15 years, OSFI has played a key role in building resilience in Canada's financial system. We can leverage this foundation to help financial institutions help Canadians and the Canadian economy. Through modernized capital requirements, simplified guidance, and refined supervisory practices, OSFI will ensure that Canada's financial system remains resilient, adaptable, and ready to meet the challenges of tomorrow."

- Peter Routledge, Superintendent of Financial Institutions

Quick facts

• Since August 2024, OSFI has streamlined how it has released guidance through its Quarterly Releases followed two weeks later by Industry Day. This has ensured continued transparency as well as predictability. Visit OSFI's policy release and announcement schedule for more information.
• On December 4, 2025, OSFI will hold a virtual Industry Day on topics listed above and provide the opportunity to ask questions. Stakeholders are invited to register here.
• This release builds on priorities identified in OSFI's Annual and Semi-Annual Risk Outlook, which outline the most significant risks facing Canada's financial system.

Related links

• Theresa Hinz, Executive Director of Policy and Risk Response and Jacqueline Friedland, Executive Director Risk Assessment and Intervention Hub deliver remarks for Quarterly Release Day
• Register for Industry Day
  
• Modernizing policies, guidance, and supervision for regulatory efficiency
  
• Guidance library
  
• Capital Adequacy Requirements (CAR) – Guideline (2027)
  
• Minimum Capital Test – Guideline (2026)
  
• Rescinded guidance documents
  
• Summary report: Supervisory Framework post-implementation review
  
• Insights from the 2025 Climate Risk Returns

SOURCE Office of the Superintendent of Financial Institutions

OSFI - Media Relations, Email: [email protected], Telephone: [phone]