Regulatory Alerts2025-02-20
Pillar 3 Disclosure Guideline for Small and Medium-Sized Deposit-Taking Institutions (SMSBs) (2025)
The Office of the Superintendent of Financial Institutions (OSFI) issued this 2025 guideline to establish comprehensive Pillar 3 disclosure requirements for Canadian small and medium-sized deposit-taking institutions (SMSBs). The framework segments SMSBs into three categories to tailor quantitative and qualitative reporting, mandating fixed or flexible templates, specified frequencies, and clear signposting options while preserving confidentiality where necessary. SMSBs must implement these disclosures concurrently with financial reporting, maintain public archives for at least 12 months, and subject their Pillar 3 reports to internal controls and periodic audits to ensure market discipline and comparability.
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