{"id":53333,"date":"2024-11-27T18:15:21","date_gmt":"2024-11-27T18:15:21","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/11\/27\/osfi-says-regulators-need-to-embrace-risk-to-support-innovation\/"},"modified":"2024-11-27T18:15:21","modified_gmt":"2024-11-27T18:15:21","slug":"osfi-says-regulators-need-to-embrace-risk-to-support-innovation","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/11\/27\/osfi-says-regulators-need-to-embrace-risk-to-support-innovation\/","title":{"rendered":"OSFI says regulators need to embrace risk to support innovation"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"\">\n<header aria-label=\"Beginning of Article\" class=\"article-header article-header--story\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\" data-aqa=\"nav-breadcrumb\">\n<p>Breadcrumb Trail Links<\/p>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\">Finance<\/li>\n<li class=\"breadcrumbs__item\">Banking<\/li>\n<li class=\"breadcrumbs__item\">News<\/li>\n<\/ol>\n<\/nav>\n<div class=\"article-header__detail\">\n<div class=\"article-header__detail__texts\">\n<p class=\"article-subtitle\">Cryptocurrencies and other digital innovations are better inside the regulatory system than outside it<\/p>\n<div class=\"callout callout--noindent flex-align-center flex-justify-between\" data-evt-val=\"{\" control_fields=\"\" data-evt=\"visible\" data-evt-typ=\"element_view\"><span class=\"callout__text\"> Get the latest from Barbara Shecter straight to your inbox <\/span><button class=\"button button--icon button--primary-alt\" data-id-login-redirect=\"https:\/\/financialpost.com\/author\/bshecter\/newsletters\/\" type=\"button\"><span class=\"button__text\">Sign Up<\/span> <span aria-hidden=\"true\" class=\"button__icon\"> <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 11 11\" width=\"11\"><polygon points=\"1.1 0 7 6 1.1 12 0 10.9 4.8 6 0 1.1\"\/><\/svg> <\/span><\/button><\/div>\n<div class=\"article-meta\">\n<p><span class=\"published-date__since\">Published Nov 27, 2024<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">3 minute read<\/span><\/p>\n<div class=\"article-meta__bottom\">\n<div class=\"bookmark-wrapper\">\n<div class=\"popover\" data-aqa=\"popover\" data-click-to-appear=\"True\" data-container=\"\" data-container-offset=\"\" data-no-style=\"\" data-popover-component=\"\" data-position=\"top\" data-sticky=\"\" data-tail-offset=\"200\" data-tail-position=\"right\"><button class=\"popover__trigger bookmark-button\"><span class=\"save-article-button save-article-button--default\" title=\"Save article\" data-article-id=\"42e19f3e-281a-4c91-b885-a83fd86883b6\" data-evt-skip-click=\"true\"\/><\/button><\/p>\n<div aria-describedby=\"popover-desc-popover-bookmark\" class=\"popover__content\" hidden=\"\" role=\"dialog\">\n<div class=\"popover__content__wrapper\">\n<div class=\"popover__content__text\" id=\"popover-desc-popover-bookmark\">\n<div class=\"bookmark__popover__content\">\n<p>You can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n<p><button class=\"popover__content__close\" data-evt-skip-click=\"true\" title=\"Close\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewbox=\"0 0 12 12\" class=\"icon--close\" height=\"12\" version=\"1.1\" width=\"12\"><polygon points=\"12 0.95 11.05 0 6 5.05 0.95 0 0 0.95 5.05 6 0 11.05 0.95 12 6 6.95 11.05 12 12 11.05 6.95 6\"\/><\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<figure class=\"featured-image\" data-aqa=\"featured-image\"><picture class=\"featured-image__ratio\"><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">Cryptocurrencies are better inside the regulatory system than outside it, said OSFI head. <\/span> <span class=\"credit\">Photo by Peter J. Thompson\/National Post<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p>Canada may need to set aside a historically conservative risk appetite to avoid stifling digital innovation in the regulated banking system, including crypto assets, the country\u2019s top financial services regulator said Wednesday.<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p data-async=\"\">\u201cIf we want to truly encourage innovation, our mindset and our risk appetite for institution entry and institution exit (need to change),\u201d said Peter Routledge, head of the Office of the Superintendent of Financial Institutions.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_2\">\n<section aria-describedby=\"advertisment4858948820339602149505600688488448\" class=\"ad\">\n<p>Advertisement 2<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-2\">\n<div class=\"ad__inner__container\" data-ad=\"[[6,6],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"6x6\" data-ad-loc=\"2\" data-ad-mobile=\"[[6,6],[320,50],[300,50],[300,250],[300,600]]\" data-aqa=\"advertisement\" id=\"ad-2\" style=\"--desktopHeight:250px;--mobileHeight:600px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<div class=\"article-block article-block-bg article-content__sign-in-group hidden\" data-aqa=\"identity-sign-in\" data-async=\"\" id=\"article-block\">\n<section 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leading global business publication.<\/li>\n<li>Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\n<li>National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\n<li>Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__anonymous\">\n<p>REGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\n<p class=\"identity-intro__description\">Create an account or sign in to continue with your reading experience.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Access articles from across Canada with one account.<\/li>\n<li>Share your thoughts and join the conversation in the comments.<\/li>\n<li>Enjoy additional articles per month.<\/li>\n<li>Get email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__registration_only hidden\">\n<p>THIS ARTICLE IS FREE TO READ REGISTER TO 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class=\"identity-screen-form identity-screen__content w-full\">\n<h2 class=\"blocker-title\">Sign In or Create an Account<\/h2>\n<p><span class=\"identity-divider__line\"\/><span class=\"identity-divider__text\">or<\/span><span class=\"identity-divider__line\"\/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<footer class=\"identity-footer identity-screen__content m-x-0 p-x-0 col-sm-6 col-md-12\"\/><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>\u201cWe have historically had a fairly significant conservative risk appetite for institutional failure. Not every innovator succeeds; some do, some don\u2019t.\u201d<\/p>\n<p data-async=\"\">Speaking at an Institute of International Finance (IIF) event, Routledge said he was not talking about allowing bank failures, adding that Canada\u2019s strong set of regulations led to the resiliency of Canada\u2019s banking system through crises from the global financial crisis of 2007 to 2009 through to the COVID-19 pandemic.<\/p>\n<p>Still, he said, there is an argument to be made for adjusting requirements to encouraging cryptocurrency and other digital innovation inside the existing regulatory framework rather than outside it, where risks can become concentrated and can\u2019t be easily monitored.<\/p>\n<p>The key is to find a balance that brings the benefits of innovation to the system without sacrificing materially the financial sector resilience that is the result of the regulatory framework.<\/p>\n<p>\u201cOur first perspective on digital and crypto assets is, how can we leverage the benefits of that innovation without sacrificing materially financial sector resilience? And I do think it\u2019s possible,\u201d Routledge said.<\/p>\n<\/section>\n<div class=\"js-widget-content article-content__widget-group article-content__widget-group--content-slot16 article-content__widget-group--newsletter-slot\">\n<section class=\"newsletter-widget__new-story-page fp-execsummary background--primary-light-gradient\" aria-labelledby=\"FinancialPostPosthaste9645843460812717528879504813981696\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" data-newsletter=\"single\" data-newsletter-component=\"\" data-target-list=\"FP_ExecSummary\" data-widget=\"newsletter\">\n<div class=\"newsletter-new-story-page-template\">\n<div class=\"newsletter-widget__header__new-story-page\">\n<div class=\"newsletter-widget__banner__new-story-page\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/dcs-static.gprod.postmedia.digital\/17.5.1\/websites\/images\/newsletters\/icon-fp-posthaste.svg 75w, https:\/\/dcs-static.gprod.postmedia.digital\/17.5.1\/websites\/images\/newsletters\/icon-fp-posthaste.svg 100w, https:\/\/dcs-static.gprod.postmedia.digital\/17.5.1\/websites\/images\/newsletters\/icon-fp-posthaste.svg 150w, https:\/\/dcs-static.gprod.postmedia.digital\/17.5.1\/websites\/images\/newsletters\/icon-fp-posthaste.svg 240w, https:\/\/dcs-static.gprod.postmedia.digital\/17.5.1\/websites\/images\/newsletters\/icon-fp-posthaste.svg 320w, https:\/\/dcs-static.gprod.postmedia.digital\/17.5.1\/websites\/images\/newsletters\/icon-fp-posthaste.svg 500w, https:\/\/dcs-static.gprod.postmedia.digital\/17.5.1\/websites\/images\/newsletters\/icon-fp-posthaste.svg 640w, https:\/\/dcs-static.gprod.postmedia.digital\/17.5.1\/websites\/images\/newsletters\/icon-fp-posthaste.svg 800w, https:\/\/dcs-static.gprod.postmedia.digital\/17.5.1\/websites\/images\/newsletters\/icon-fp-posthaste.svg 1024w, https:\/\/dcs-static.gprod.postmedia.digital\/17.5.1\/websites\/images\/newsletters\/icon-fp-posthaste.svg 1280w, https:\/\/dcs-static.gprod.postmedia.digital\/17.5.1\/websites\/images\/newsletters\/icon-fp-posthaste.svg 1600w\" alt=\"Posthaste\" loading=\"lazy\" fifu-data-src=\"https:\/\/dcs-static.gprod.postmedia.digital\/17.5.1\/websites\/images\/newsletters\/icon-fp-posthaste.svg\"\/><\/div>\n<div>\n<p>Posthaste<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.<\/p>\n<\/div>\n<\/div>\n<div class=\"newsletter-widget__body__new-story-page\">\n<div class=\"js-replace-main__new-story-page\">\n<p class=\"newsletter-widget__disclaimer__new-story-page text-size--tiny\">By signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n<div class=\"js-submit-success\" hidden=\"\" id=\"submitSuccessFP_ExecSummary\">\n<p>Thanks for signing up!<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">A welcome email is on its way. If you don&#8217;t see it, please check your junk folder.<\/p>\n<p class=\"newsletter-widget__text__new-story-page newsletter__feedback--last\">The next issue of Posthaste will soon be in your inbox.<\/p>\n<\/div>\n<p class=\"newsletter-widget__text__new-story-page js-submit-error\" style=\"margin-top: 8px\" hidden=\"\" id=\"submitErrorFP_ExecSummary\">We encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_3\">\n<section aria-describedby=\"advertisment978636225899403039837777234493440\" class=\"ad\">\n<p>Advertisement 3<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-3\">\n<div class=\"ad__inner__container\" data-ad=\"[[7,7],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"7x7\" data-ad-loc=\"3\" data-ad-mobile=\"[[7,7],[300,250],[320,50],[300,50]]\" data-aqa=\"advertisement\" id=\"ad-3\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>One of the things OSFI is looking at is whether approvals process and requirements for entry into the regulated financial system are too onerous or, as he put it: Are the regulatory requirements for entry \u201cappropriately\u201d sized?<\/p>\n<p>\u201cWe\u2019re asking ourselves what we can do in our approvals process to adjust our risk appetite in a way that supports innovation,\u201d Routledge said. \u201cI think if you were to ask some players out there \u2026 they would tell you, \u2018Boy it\u2019s hard to get a bank licence in Canada to operate.\u2019 \u2026 Can we rebalance that so we get a bit more innovation in the system earlier and thereby encourage innovation within the regulated system?\u201d<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p data-async=\"\">He said OSFI is approaching innovation in the financial sector, including the use of artificial intelligence, with a \u201cfirst, do no harm\u201d mentality that means ensuring regulation does not stifle beneficial changes.<\/p>\n<p>However, when it comes to capital requirements that have kept Canada\u2019s banking system on relatively stable footing \u2014 whether through the \u201cmini-crisis\u201d last year that shook financial institutions in the United States and Europe or the pandemic \u2014 Routledge said OSFI is not giving up on implementation of the Basel III rules developed in 2017 to address weaknesses exposed by the financial crisis a decade earlier.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_4\">\n<section aria-describedby=\"advertisment9525201502371803434999979400232960\" class=\"ad\">\n<p>Advertisement 4<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-4\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"4\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-4\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>While Canada\u2019s regulator has paused a key plank in the final implementation due to delays in the U.S. and Europe, he declined to say whether that will be extended beyond the one-year window announced in July.<\/p>\n<p>\u201cThe decision (whether) to continue that delay, we will make year by year,\u201d he said. \u201cEarly next summer \u2026 or late spring, we\u2019ll announce our path forward for the next year. And there may be changes to the schedule and there may not be.\u201d<\/p>\n<p data-async=\"\">Still, he acknowledged that if Canada were to go ahead with implementation and other jurisdictions do not, it would create an uneven playing field and competitive disadvantage for some of Canada\u2019s largest banks, an issue flagged by Royal Bank of Canada CEO Dave McKay in April.<\/p>\n<section aria-labelledby=\"moreTopicLabel3155474997016059655660834759114752\" class=\"more-topic\" data-aqa=\"embed-more-topic\" data-carousel-component=\"\" data-carousel-icon-button=\"\" data-carousel-type=\"list\">\n<p>Recommended from Editorial<\/p>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-prev\" data-carousel-prev=\"\" tabindex=\"-1\" title=\"previous\" type=\"button\"\/><\/p>\n<ol class=\"more-topic__items list-unstyled\" data-carousel-slide-list=\"\" tabindex=\"0\">\n<li data-evt-val=\"{\" control_fields=\"\" runs=\"\" still=\"\" a=\"\" risk=\"\" to=\"\" financial=\"\" system=\"\" global=\"\" agency=\"\" warns=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/bank-runs-gs1119-1.png?h=96&strip=all&quality=5&sig=izdEqysPtHUYOMNSryzgzQ&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/bank-runs-gs1119-1.png?h=96&strip=all&quality=5&sig=izdEqysPtHUYOMNSryzgzQ&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/bank-runs-gs1119-1.png?h=96&strip=all&quality=5&sig=izdEqysPtHUYOMNSryzgzQ&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/bank-runs-gs1119-1.png?h=96&strip=all&quality=5&sig=izdEqysPtHUYOMNSryzgzQ&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/bank-runs-gs1119-1.png?h=96&strip=all&quality=5&sig=izdEqysPtHUYOMNSryzgzQ&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/bank-runs-gs1119-1.png?h=96&strip=all&quality=5&sig=izdEqysPtHUYOMNSryzgzQ&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/bank-runs-gs1119-1.png?h=96&strip=all&quality=5&sig=izdEqysPtHUYOMNSryzgzQ&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/bank-runs-gs1119-1.png?h=96&strip=all&quality=5&sig=izdEqysPtHUYOMNSryzgzQ&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/bank-runs-gs1119-1.png?h=96&strip=all&quality=5&sig=izdEqysPtHUYOMNSryzgzQ&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/bank-runs-gs1119-1.png?h=96&strip=all&quality=5&sig=izdEqysPtHUYOMNSryzgzQ&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/bank-runs-gs1119-1.png?h=96&strip=all&quality=5&sig=izdEqysPtHUYOMNSryzgzQ&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"The head of the global agency for banking stability called on G20 countries to implement a set of banking rules that have been unevenly adopted across North America and Europe.\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/bank-runs-gs1119-1.png?h=96&strip=all&quality=80&sig=ygbP3wPEQ5K_avru4TwxTQ\" fifu-data-src=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/bank-runs-gs1119-1.png?h=96&strip=all&quality=5&sig=izdEqysPtHUYOMNSryzgzQ&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/bank-runs-gs1119-1.png?h=96&strip=all&quality=80&sig=ygbP3wPEQ5K_avru4TwxTQ, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/bank-runs-gs1119-1.png?h=192&strip=all&quality=80&sig=aeOem3gd8ogewagQhflWWw 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/bank-runs-gs1119-1.png?h=288&strip=all&quality=80&sig=oSKGg7xd100MHEmLCfcuqA 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Bank runs still a risk to financial system, global agency warns<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" delays=\"\" increase=\"\" in=\"\" capital=\"\" rules=\"\" by=\"\" one=\"\" year=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0705banks.jpg?h=96&strip=all&quality=5&sig=80I6uHQrk8PmYPRY2vd74Q&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0705banks.jpg?h=96&strip=all&quality=5&sig=80I6uHQrk8PmYPRY2vd74Q&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0705banks.jpg?h=96&strip=all&quality=5&sig=80I6uHQrk8PmYPRY2vd74Q&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0705banks.jpg?h=96&strip=all&quality=5&sig=80I6uHQrk8PmYPRY2vd74Q&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0705banks.jpg?h=96&strip=all&quality=5&sig=80I6uHQrk8PmYPRY2vd74Q&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0705banks.jpg?h=96&strip=all&quality=5&sig=80I6uHQrk8PmYPRY2vd74Q&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0705banks.jpg?h=96&strip=all&quality=5&sig=80I6uHQrk8PmYPRY2vd74Q&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0705banks.jpg?h=96&strip=all&quality=5&sig=80I6uHQrk8PmYPRY2vd74Q&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0705banks.jpg?h=96&strip=all&quality=5&sig=80I6uHQrk8PmYPRY2vd74Q&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0705banks.jpg?h=96&strip=all&quality=5&sig=80I6uHQrk8PmYPRY2vd74Q&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0705banks.jpg?h=96&strip=all&quality=5&sig=80I6uHQrk8PmYPRY2vd74Q&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"Bank buildings in Toronto's financial district.\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0705banks.jpg?h=96&strip=all&quality=80&sig=aYr0lhy7K3z3bY2ubDkybw\" fifu-data-src=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0705banks.jpg?h=96&strip=all&quality=5&sig=80I6uHQrk8PmYPRY2vd74Q&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0705banks.jpg?h=96&strip=all&quality=80&sig=aYr0lhy7K3z3bY2ubDkybw, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0705banks.jpg?h=192&strip=all&quality=80&sig=_P7PcupqUycx_CiizX8OYA 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0705banks.jpg?h=288&strip=all&quality=80&sig=yJaFTTr5aEYxO-5SMkR2gQ 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">OSFI delays increase in capital rules by one year<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" keeps=\"\" big=\"\" banks=\"\" stability=\"\" buffer=\"\" unchanged=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/osfit-0618-ph.jpg?h=96&strip=all&quality=5&sig=tXObOWCRIsuJRhcfihEHxw&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/osfit-0618-ph.jpg?h=96&strip=all&quality=5&sig=tXObOWCRIsuJRhcfihEHxw&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/osfit-0618-ph.jpg?h=96&strip=all&quality=5&sig=tXObOWCRIsuJRhcfihEHxw&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/osfit-0618-ph.jpg?h=96&strip=all&quality=5&sig=tXObOWCRIsuJRhcfihEHxw&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/osfit-0618-ph.jpg?h=96&strip=all&quality=5&sig=tXObOWCRIsuJRhcfihEHxw&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/osfit-0618-ph.jpg?h=96&strip=all&quality=5&sig=tXObOWCRIsuJRhcfihEHxw&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/osfit-0618-ph.jpg?h=96&strip=all&quality=5&sig=tXObOWCRIsuJRhcfihEHxw&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/osfit-0618-ph.jpg?h=96&strip=all&quality=5&sig=tXObOWCRIsuJRhcfihEHxw&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/osfit-0618-ph.jpg?h=96&strip=all&quality=5&sig=tXObOWCRIsuJRhcfihEHxw&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/osfit-0618-ph.jpg?h=96&strip=all&quality=5&sig=tXObOWCRIsuJRhcfihEHxw&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/osfit-0618-ph.jpg?h=96&strip=all&quality=5&sig=tXObOWCRIsuJRhcfihEHxw&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"The Office of the Superintendent of Financial Institutions held\u00a0the domestic stability buffer for Canada's banks at 3.5 per cent Tuesday. \" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/osfit-0618-ph.jpg?h=96&strip=all&quality=80&sig=Jn0ydWKZhqQGtaERdt1ESw\" fifu-data-src=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/osfit-0618-ph.jpg?h=96&strip=all&quality=5&sig=tXObOWCRIsuJRhcfihEHxw&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/osfit-0618-ph.jpg?h=96&strip=all&quality=80&sig=Jn0ydWKZhqQGtaERdt1ESw, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/osfit-0618-ph.jpg?h=192&strip=all&quality=80&sig=A743rFIF1U4KAOwpQimXVA 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/osfit-0618-ph.jpg?h=288&strip=all&quality=80&sig=yjf_RFqfJgbkkiN9iXIJGQ 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">OSFI keeps big banks&#8217; stability buffer unchanged<\/span><\/p>\n<\/li>\n<\/ol>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-next\" data-carousel-next=\"\" tabindex=\"-1\" title=\"next\" type=\"button\"\/><\/section>\n<p>\u201cWe are worried about the fragmentation of Basel III, and we\u2019re worried because we really have the conviction that these reforms will make financial systems, at least Canada\u2019s financial system, more resilient,\u201d Routledge said.<\/p>\n<p>\u201c(But) while we do have conviction about the \u2026 reforms, it is also a competitive issue for Canada\u2019s banks and many of them compete internationally. We can\u2019t ignore that.\u201d<\/p>\n<p data-async=\"\"><em>\u2022 Email: bshecter@postmedia.com<br \/><\/em><\/p>\n<p data-async=\"\"><em><strong>Bookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add financialpost.com to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt-val=\"{\" control_fields=\"\" data-evt-typ=\"page_scroll\">\n<p>Share this article in your social network<\/p>\n<\/section>\n<\/div>\n\n<br \/>OSFI says regulators need to embrace risk to support innovation<\/a><br \/>\n<br \/>2024-11-27 18:15:21<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links Finance Banking News Cryptocurrencies and other digital innovations are better inside the regulatory system than outside it Get the latest from Barbara Shecter straight to your inbox&#8230;<\/p>\n","protected":false},"author":2,"featured_media":53334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/bitcoin-1127-ph.jpg?quality=90&strip=all&w=288&h=216&sig=JcfmAdOb3FTSAKHF8UnBYg","fifu_image_alt":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-53333","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53333","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53333"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53333\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53334"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}