The Office of the Superintendent of Financial Institutions (OSFI) issued an industry letter revising its policy plan, positioning the update as part of an ongoing effort to refine regulatory guidelines and advisories and remove unnecessary burden. The updated plan emphasizes seeking efficiencies while maintaining the resilience of the federally regulated financial institutions OSFI supervises. OSFI linked the revisions to recent actions aimed at improving regulatory and supervisory effectiveness, including its Policy Modernization initiative to identify and remove outdated or redundant guidance, which led to rescinding 20 guidelines and industry advisories in April 2025 and refining its policy release schedule. It also referenced pausing Basel III implementation of the output floor and policy shifts to adjust the cadence of regulatory intensity to keep attention focused on the most important current risks. Further rescissions of guidelines and advisories are expected in fall 2025, and OSFI plans to provide additional detail on its expected policy work in the fall Semi-Annual Risk Outlook scheduled for release on October 9, 2025.
Office of the Superintendent of Financial Institutions 2025-08-18
Office of the Superintendent of Financial Institutions updates its policy plan to reduce regulatory burden and pursue supervisory efficiencies
The Office of the Superintendent of Financial Institutions (OSFI) revised its policy plan to enhance regulatory efficiency and reduce unnecessary burdens while maintaining the resilience of federally regulated financial institutions. This update is part of OSFI's Policy Modernization initiative, which has already rescinded 20 guidelines and advisories and paused Basel III output floor implementation. Further guideline rescissions are anticipated in fall 2025, with more details in the upcoming Semi-Annual Risk Outlook.