The Office of the Superintendent of Financial Institutions (OSFI) has issued direction on capital treatment of the recently launched Highly Affected Sectors Credit Availability Program (HASCAP).   Federally regulated lenders are to treat HASCAP loans as a sovereign exposure based on the Business Development Bank of Canada (BDC) guarantee.  They

FINTRAC has published a delivery schedule for the implementation of new reporting obligations related to the amended Regulations that will come into force on June 1, 2021.   The schedule involves two key streams: i) changes to FINTRAC’s and reporting entities’ information technology systems; and ii) drafting of over sixty

The US federal regulators have issued responses to Frequently Asked Questions regarding suspicious activity reporting and other AML considerations for financial institutions that are required to submit Suspicious Activity Reports.   Further details are available here.   Photo Credit: Pixabay    

OSFI has launched a three-month consultation on addressing climate-related risks in the financial sector.   The consultation will be via a discussion paper, ‘Navigating Uncertainty in Climate Change: Promoting Preparedness and Resilience to Climate-Related Risks.’   According to OSFI,  the paper focuses on risks arising from climate change that can

FINTRAC has updated its Risk Assessment Guidance.    The update covers legislative amendments from June 2017 and legislative amendments that will come into force on June 1, 2021.    Further details are available here.    Picture Credit: Pixabay