Canada's OSFI Publishes Final Guidelines on Crypto-Asset Exposures
The Office of the Superintendent of Financial Institutions (OSFI) in Canada has published final guidelines for treating exposures to crypto-assets by banks. The guidelines, which take effect on November 1, 2026, for financial institutions with a year-end of October 31 and January 1, 2027, for those with a year-end of December 31, aim to provide clarity on the capital and liquidity treatment of these exposures.
According to OSFI, the guidelines are based on international standards set by the Basel Committee on Banking Supervision (BCBS) and were developed in consultation with stakeholders. The regulator has made two key changes from an initial draft: first, it will recognize fully offsetting positions in the same crypto-asset across multiple regulated exchanges; second, it will exclude derivatives exposures arising from customer clearing services from the calculation of Group 2 exposure limits.
OSFI also clarified its stance on tokenized deposits, stating that they are not legally distinguishable from traditional deposits. The regulator emphasized that financial institutions remain responsible for ensuring compliance with applicable laws and regulations, including those related to technology and cybersecurity risks.