The Office of the Superintendent of Financial Institutions (OSFI) opened consultations to consolidate its credit risk expectations into a single Credit Risk Management Guideline and to introduce a senior leader accountability regime, and issued the final Liquidity Adequacy Requirements (LAR) Guideline for 2026. It also released a Guide to Administrative Monetary Penalties, confirmed the continuation of loan-to-income limits on uninsured mortgage portfolios, and delayed selected initiatives that it considers to pose less immediate risk. The six-month credit risk consultation covers overarching principles and key content areas, with further consultations planned on the text of the draft guideline. The nine-month senior leader accountability consultation proposes a principles-based, outcomes-focused regime that allows institutions to tailor frameworks to their size and complexity, and is sequenced to avoid overlap with OSFI’s broader consultation on corporate governance expectations. The final LAR Guideline for 2026 reflects feedback from last year’s consultation and aims to improve consistency of liquidity risk measurement by clarifying which deposits qualify as retail funding, updating the treatment of partnership deposits and structured notes, and simplifying the definition of retail rate-sensitive deposits, with an effective date of May 1, 2026. OSFI determined that the loan-to-income limits pilot reduced the build-up of highly levered residential mortgage borrowers and will therefore keep the limits in place, with existing debt service expectations in Guideline B-20 continuing to complement them. Work was also delayed on consultations for a revised Guideline B-12 on interest rate risk management and on financed emissions disclosure expectations for off-balance sheet assets under management under Guideline B-15, with the B-15-related implementation deferred to a future date.

Original source View in tracker