The Reporter provides a monthly summary of Canadian federal legislative and regulatory developments of relevance to federally regulated financial institutions. It does not address Canadian provincial financial services legislative and regulatory developments, although this information is tracked by BLG and can be provided on request. In addition, purely technical and administrative changes (such as changes to reporting forms) are not covered.

April 2017

Institution

Published

Title and Brief Summary

Status

OSFI [Applicable to Banks]

Published April 20, 2017

OSFI issues final guideline for Pillar 3 Disclosure Requirements

This guideline sets out OSFI's expectations for domestic systemically important banks (D-SIBs) on the domestic implementation of the Revised Pillar 3 Disclosure Requirements, issued by the Basel Committee on Banking Supervision (BCBS) in January 2015. this guideline will replace the existing disclosure requirements issued under Basel II (including Basel 2.5 enhancements and revisions) in the areas of credit risk, counterparty credit risk and securitization activities.

Effective October 31, 2018

Financial Consumer Agency of Canada (FCAC)

Published April 13, 2017

Consultation summary: FCAC Supervision Framework and Publishing principles for FCAC Decisions

ased on stakeholder comments, FCAC amended the Framework in several areas. For example, FCAC clarified the distinction between tier 1 and tier 2 regulated entities and clarified the connection between tier 1 entities and the importance of their Market Conduct Profiles for determining the intensity of supervision. In addition, FCAC revised the list of factors that the Commissioner may consider when making public the name of a regulated entity that has committed a violation.

Final version

Financial Stability Board (FSB)

Published April 11, 2017

Proposed Framework for Post-Implementation Evaluation of the Effects of the G20 Financial Regulatory Reforms

The consultation paper sets out the main elements of a framework that will specify processes and appropriate analytical approaches for the evaluation of the effects of reforms. The paper considers the framework's scope, prioritisation of evaluations, processes for measuring benefits and costs of the reforms, how to map objectives to intended outcomes, and the evaluation approaches and tools that could be used. The framework is being developed in close collaboration with the standard-setting bodies and other stakeholders.

Application of the framework will begin over the coming years.

Bank for International Settlements

Published April 5, 2017

Prudential treatment of problem assets — definitions of non-performing exposures and forbearance

The definitions promote harmonisation in the measurement and application of two important measures of asset quality, non-performing exposures and forbearance, thereby fostering consistency in supervisory reporting.

Final version