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Designing and Implementing the Cyber Risk Dashboard

Due to the lack of an effective, integrated approach for cyber risk management, gaps in cyber risk reporting are common.

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Designing COVID-19 Pandemic Stress Scenario

The profound humanitarian fallout of COVID-19 virus carries with it the potential and equally disruptive economic fallout. Using scenarios, our experts share their thoughts on what changes would likely stay and what changes are only temporary and how they would impact the financial services business in the medium term.

PERSPECTIVE

Pandemic, Climate Change, and the New Normal

Some actions that banks and credit unions can consider as they seek to stay-in-business during this time of stress. There’s no doubt that we are only at the beginning of an unprecedented and uncertain time. Customers need assurances that their local credit union or bank is well-capitalized and can assist during this difficult time. Management; meanwhile, needs to take decisive action to deal with the immediate crisis and operate a sustainable business.

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Alternative Rating Development Approaches: Shadow Bond Approach

Where good-bad analysis cannot be used due to the lack of default data, the ‘shadow-bond method’ offers a less robust but statistically valid alternative. Here the ability of financial factors to predict default is modelled by measuring their ability to predict external rating agency default rates.

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Regulatory Approval of an Internal Ratings-Based Approach

More than ten years after the rollout of Basel 2, many lending institutions in Canada are still using the Standardized Approach (SA) for regulatory reporting. As a consequence, reporting institutions are either setting aside disproportionately higher capital for their loan book, are engaged in regulatory arbitrage by issuing residential real estate loans, or are involved in "originate-to-distribute" lending. All of these aforementioned consequences contribute to higher systemic risk.

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Distribution Analysis for Information Risk (DAIR): A Cyber Quantification Framework

We know that cyber threats continue to evolve and pose increasingly significant risks to organizations. We also know that the impact of cyber-attacks extends beyond direct financial consequences. Cyber incidents can lead to serious service disruptions, reputational damage, and share price deterioration, along with the potential for fines and litigation.

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BANKINGBOOK WEBINAR SERIES 2 - Episode 1

Digitization of Enterprise Risk Management on October 21, 2020, at 5:00 pm EST

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BANKINGBOOK WEBINAR SERIES 2 - Episode 2

Maximizing Deposit Margin and Growth in Low Rate Environment on November 18, 2020, at 5:00 pm EST

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BANKINGBOOK WEBINAR SERIES 2 - Episode 3

Managing and Forecasting Cyber Risk on December 16, 2020, at 5:00 pm EST

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Building Resilience: OSFI Sets Domestic Stability Buffer Level At 2.25%

The Office of the Superintendent of Financial Institutions (OSFI) set the Domestic Stability Buffer (DSB) at 2.25% of total risk-weighted assets, effective April 30, 2020. This reflects OSFI’s view that key vulnerabilities to Canada’s Domestic Systemically Important Banks (D-SIBs) remain elevated.

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Google Is Preparing To Launch A Chequing Account Backed By Citigroup And A Stanford University Credit Union

Google plans to add chequing accounts from Citigroup to its Google Pay digital wallet in 2020. Big tech companies have been pushing into other arenas, such as finance and healthcare to gain more access to consumer data. Google launched Google Wallet in 2011, now called Google Pay, which lets users store credit and debit card information and use them to make mobile and digital payments.

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The FSRA Announces Membership Of New Stakeholder Advisory Committees

The FSRA is very pleased to announce the membership for six new Stakeholder Advisory Committees (SACs) that will provide input and advice to FSRA’s Board of Directors and help shape the future of financial regulation in Ontario.