OSFI Quarterly Release: Guidance and Risk Management Updates

OSFI News (Canada Banking Regulator)

Published January 29th, 2026

Detected February 11th, 2026

Summary

The Office of the Superintendent of Financial Institutions (OSFI) has released its first quarterly update of 2026, finalizing new liquidity guidance and launching consultations on credit risk management and board accountability. The release also confirms the continuation of loan-to-income limits for uninsured mortgages.

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What changed

The Office of the Superintendent of Financial Institutions (OSFI) has issued its first Quarterly Release for 2026, announcing finalized updates to the Liquidity Adequacy Requirements Guideline and confirming the continued use of loan-to-income (LTI) limits for uninsured mortgages. Additionally, OSFI is initiating two significant consultations: one concerning the consolidation of existing credit risk management guidance into a single, principle-based guideline, and another focused on governance and accountability for boards and senior leaders. OSFI also noted the development of a new guide to its administrative monetary penalties.

Financial institutions should review the updated Liquidity Adequacy Requirements Guideline and prepare for the upcoming consultations on credit risk management and senior leader accountability, with comment periods of six and nine months respectively. The confirmation of LTI limits means existing debt service expectations in Guideline B-20 will continue to complement them. Institutions should also note the upcoming virtual Industry Day on February 12, 2026, to discuss these updates and consultations. While no direct compliance deadlines are specified for the consultations, regulated entities should anticipate future guideline revisions based on feedback received.

What to do next

Review the finalized Liquidity Adequacy Requirements Guideline for 2026.
Prepare to provide feedback on the upcoming consultations for credit risk management and board/senior leader accountability.
Note the continuation of loan-to-income (LTI) limits and existing debt service expectations.

Penalties

The document mentions the development of a guide to administrative monetary penalties, but does not specify any penalties related to the current guidance or consultations.

Source document (simplified)

OSFI’s Quarterly Release: continuing to advance smart, well-calibrated risk-taking

News release
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Ottawa -

January 29, 2026

Today, the Office of the Superintendent of Financial Institutions (OSFI) had its first Quarterly Release of 2026. As part of this release, OSFI has finalized new liquidity guidance and is launching consultations on credit risk management as well as accountability for boards and senior leaders.

This Quarterly Release highlights how OSFI's focused policy efforts and smart oversight are engaging industry on risk issues that are the most critical and have greatest impact. Concentrating resources where they matter most ensures institutions can adapt and grow while preserving confidence and stability.

Specific details include:

OSFI is consolidating existing credit risk management guidance for mortgage lending, commercial real estate, and corporate lending into a single, principle-based guideline. A six-month consultation will seek feedback on overarching principles and key content areas. The resulting Credit Risk Management Guideline will align with international best practices and improve regulatory and supervisory efficiency, while reducing complexity and compliance burden for institutions.
OSFI will start a nine-month consultation focused on the issues of governance and accountability for boards and senior leaders. Governance and accountability risks can weaken financial institution resilience — when these risks materialize, they often appear as a systemic issue bypassing an institution's early warning system. Strong governance and accountability help institutions stay resilient, manage risk, and maintain public trust.
OSFI refined the Liquidity Adequacy Requirements Guideline for 2026 to improve consistency in liquidity risk measurement and support institutions' long-term strategic planning.
OSFI also provided additional updates:
The development of a new guide to its administrative monetary penalties.
Following its pilot, OSFI has determined that loan-to-income (LTI) limits lessen the build‑up of highly leveraged residential mortgage borrowers, which in turn reduces systemic risk. Therefore, LTI limits will remain in place. At this time, existing debt service expectations in Guideline B-20 will continue to complement LTI limits.

Quote

OSFI's approach to regulatory oversight is principles-based, proportionate, and focused on the risks that matter most. Through this release, OSFI aims to improve prudential clarity without over-burdening institutions or compromising the resilience of Canada's financial system. OSFI's continued approach to smart oversight will help Canadian institutions thrive during this period of uncertainty.

Quick facts

On February 12, 2026, OSFI will hold a virtual Industry Day on topics listed above and provide the opportunity to ask questions. Stakeholders are invited to register for Industry Day.
This release builds on priorities identified in OSFI's Annual and Semi-Annual Risk Outlook, which outline the most significant risks facing Canada's financial system.
On January 8, 2026, OSFI announced that the planned public consultation on Guideline B-15's disclosure expectation for financed emissions related to off-balance sheet assets under management was paused. Implementation is deferred to a future date, as reflected in Annex 2-2 of Guideline B-15.
Since August 2024, OSFI streamlined how it releases guidance through its Quarterly Releases followed two weeks later by Industry Day. This ensures continued transparency as well as predictability. Visit OSFI's policy release and announcement schedule for more information.