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Clarification on the Treatment of Innovative Real Estate Secured Lending Products under Guideline B-20
… from a traditional mortgage and which may have unique risk management requirements. These include loans with “combined” … Background Guideline B-20 defines and sets out OSFI’s risk management expectations for home equity lines of credit … of this equivalent treatment is to extend heightened risk management expectations in the Guideline to other innovative …
Data Maintenance at TSA & AMA Institutions
… maintenance” incorporates the key components of the data management process, including data collection, data … analysis data. II. Data Maintenance Principles 1. Senior Management and Oversight An institution applying for TSA or AMA should establish information technology and data management processes appropriate to the nature, scope and …
Final Corporate Governance Guideline – Letter (2018)
… that replace OSFI’s Board expectations contained in risk management and capital guidelines and advisories. As a … – Changes to the Membership of the Board and Senior Management , and revised its Assessment Criteria to align … requested that OSFI define certain terms (i.e., Senior Management, Operational Management, and Oversight Functions) …
Own Risk and Solvency Assessment
… the scope of the ORSA, its relation to enterprise risk management, the role of Senior Management Footnote 4 and other participants in performing, … and considerations about the identification, assessment, management and other aspects of risk, insurers may also …
Review of the 31st Actuarial Report on the Canada Pension Plan
… assumptions, investment expenses and value added by active management. Recommendation 10 We recommend that the rationale … and the unpredictability and variability of the different cash flows if the assumptions are changed or not realized. … Canada (ESDC) and the Canada Revenue Agency (CRA) normally flow to the OCA through Service Canada. The report details …
OSFI’s Review of Reputation Risk Practices - Principles, Observations and Next Steps – Letter (2005)
… the importance and priority given to reputation risk management continues to grow. Organizations are recognizing the benefits of having sound reputation risk management practices as well as the negative consequences … procedures. Last year, OSFI reviewed the reputation risk management practices in certain product lines at selected …
Earthquake Exposure Sound Practices - Letter (2013)
… the description of best practices in earthquake exposure management; Increase OSFI’s flexibility in the collection of … together with the earthquake exposure risk management policy, prior to January 1, 2014. When a … also file an approved copy of its earthquake exposure risk management policy with its designated OSFI Relationship …
Commercial Lending Criteria
… Process The Office expects companies to follow sound risk management practices in the context of commercial lending … capital position, a consistently sound record of credit management based on a significant volume of commercial … their commercial lending business plan, their credit risk management programs, their credit granting and monitoring …
Recognition of Hedge Contracts in the Determination of the Segregated Fund Guarantee Capital Requirement for Life Insurance Companies
… may wish to implement, for their own internal risk management purposes, forward- looking strategies that involve … a hedge position, hedge contracts that the company’s risk management policy states would be entered into contingent … the occurrence of particular future events, or any form of management action subsequent to the valuation date. Explicit …
OSFI issues final Guideline B-15 and responds to consultation feedback
… (OSFI) publishes final Guideline B-15 – Climate Risk Management , and its responses to draft Guideline B-15 … Guideline B-15 sets out expectations for the sound management of climate-related risks for federally regulated … a questionnaire to FRFIs to report on their climate risk management readiness. Letter Banks Life Insurance and …
Securities (B2)
… in this return conforms to the definitions of financial flow sector accounts detailed in the attached Definition of Financial Flow Sectors. This concept is also used in the Non-Mortgage … it and charges costs of production against revenue, management of the institution is relatively autonomous. Not …
OSFI’s Near-Term Plan of Prudential Policy for Federally Regulated Financial Institutions and Federally Regulated Private Pension Plans
… plans (FRPPs) that sets prudential expectations for their management and mitigation of risk. OSFI’s Strategic Plan … legislative and reporting requirements, and sound risk management practices. OSFI guidance may take a number of … has divided its guidance priorities into four streams Risk Management Guidance for FRFIs and FRPPs , Risk Management …
Assessment of Regulatory Capital Models for Deposit-Taking Institutions
… of the model's integration into the institutions' risk management practices. Operations: an assessment of the … and/or the Guideline E-23 "Enterprise-Wide Model Risk Management for Deposit-Taking Institutions". These four … – the capital model is relevant to risk measurement and management of the risks in the business (i.e. fit for …
Derivatives Sound Practices – Letter (2015)
… also reflects current practices with respect to the risk management of derivatives activities. OSFI expects that the sophistication of an institution’s risk management practices and measurement techniques will depend … risk. OSFI agrees and the change had been made. Risk Management – P. 5 Greater clarity was requested with respect …
The Use of Ratings and Estimates of Default and Loss at IRB Institutions
… to encourage institutions to improve their measurement and management of risk. Institutions may look to CAR for specific … requirements of CAR; namely, the credit approval, risk management, internal capital allocations, and corporate … operations and reporting, including reports to senior management and the Board of Directors. Most institutions rate …