OSFI – Proposed revisions to public disclosure requirement related to the identification of G-SIBs

June 7, 2021 – OSFI proposed revisions to implement disclosure requirements, under Basel, as part of the process to determine G-SIBs, focusing on disclosure of the institution’s financial metrics.

GSIB Assessment Public Disclosures
Basel updated assessment methodology, to determine Global Systemically Important Banks (G-SIBs), for capital evaluation purposes, effective for 2022 G-SIB assessment.

Assessment includes revised disclosure requirement of bank financial year-end data, to be issued no later than release date of a firm’s first quarter (Q1) shareholder earnings. Data disclosure may be issued within shareholder reports or within Pillar 3 reports. Provides option for firms to restate data, if needed, prior to publication of G-SIBs. Reporting assessment indicators to include cross-border activity, size, complexity, payments, trade volume, OTC nationals, AFS, and exposures for Basel 3 leverage ratio.

Consultation
Comments on draft G-SIB assessment disclosure revisions welcome by July 16, 2021. OSFI to issue a response to comments submitted and provide final advisory in 2021.

For more information, visit www.osfi-bsif.gc.ca.

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