OSFI's Blueprint: Helping Build Better Guidelines

OTTAWA, ON, May 23, 2023 /CNW/ - Today, the Office of the Superintendent of Financial Institutions (OSFI) launched the Policy Architecture Renewal (PAR), an initiative to simplify policy and guidance documents. 

PAR will make OSFI guidelines easier to understand by:

• removing redundancy and duplication;
• re-organizing documents in a more understandable manner; and
• increasing consistency in how information is written and presented.

PAR forms an integral part of OSFI's Blueprint for Transformation, building on OSFI's strong history of supporting financial stability and its reputation as a global leader in prudential policy.

Quote

"Making sure the policies and guidance we give to financial institutions are clear and well-organized will help them manage risk effectively and efficiently. Our work to streamline, simplify, and re-organize our over 250 guidance documents will help OSFI and financial institutions better respond to the right risks, in the right manner, at the right time." 

- Peter Routledge, Superintendent of Financial Institutions

Quick Facts

• OSFI plans to consult with stakeholders on Policy Architecture Renewal (PAR) this summer.
• Over the coming weeks, OSFI will provide progress updates on the six Transformation pillars.

Related Links

• Blueprint for Transformation
• Modernizing our policies and guidance
• Progress on our initiatives
• 2022-2025 Strategic Plan

SOURCE Office of the Superintendent of Financial Institutions

OSFI - Media Relations, Email: [email protected], Telephone: [phone]