FINTRAC has updated its guidance on politically exposed persons and heads of international organizations, ongoing monitoring and business relationships.   Further details are available here.   Photo Credit: Pixabay  

The Bank of Canada (Bank) is researching potential system designs and business models for a digital currency.   In 2020, the Bank engaged three independent project teams to conduct exploratory design work.  All three design proposals, coming from the University of Calgary, McGill University, and the University of Toronto and

The Office of the Comptroller of the Currency (OCC) has issued a bulletin that provides a self-assessment tool for banks to evaluate their preparedness for the expected cessation of the London InterBank Offered Rate (LIBOR).   The OCC indicates the tool can be used to assess the appropriateness of a

OSFI has published a document on capital models assessment.  The document outlines key principles and processes OSFI applies for assessing internal models financial institutions intend to use for regulatory capital purposes (capital models).    The capital models relate to the measurement of credit, market and counterparty credit risk for the

Earlier today, Ben Gully, Assistant Superintendent (Regulation Sector) OSFI spoke to the work the prudential regulator is doing to create the basis for sound prudential decisions on climate-related risks.   In his remarks, the Assistant Superintendent noted OSFI focus as being the prudential impact of climate change in terms of