As part of a coordinated effort by federal agencies, OSFI has taken a number of actions that build resilience of federally regulated financial institutions and improve the stability of the Canadian financial system and economy in response to challenges posed by COVID-19 and current market conditions.
OSFI, market participants, and financial institutions all recognize the critical need for strong capital and liquidity and effective risk management. OSFI has strengthened its requirements and its supervisory efforts in all of these areas since the 2008 global financial crisis. These measures have improved the resilience of federally regulated financial institutions for periods of stress.
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