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Top related persons:
Peter Routledge - 1 OSFI - 1 Nivedita Balu - 1 Marguerita Choy - 1
Top related locs:
Toronto
Top related orgs:
Thomson - 1

Search resuls for: "Peter Routledge"


3 mentions found


☆ Canada financial regulator proposes new capital guidelines for crypto assets
  + stars: | 2023-07-26 | by ( ) www.reuters.com   time to read: +1 min
July 26 (Reuters) - Canada's financial regulator on Wednesday proposed changes to its capital and liquidity approach to crypto-assets, citing a risky environment and in response to international banking standards. The Office of the Superintendent of Financial Institutions (OSFI)said guidelines were for federally regulated deposit-taking institutions, that includes banks and credit unions, and another for insurers, on the regulatory capital treatment of crypto-asset exposures. OSFI's Superintendent Peter Routledge said banks and insurers need clarity on how to treat crypto-asset exposures when it comes to capital and liquidity and the regulator looks to provide clarity through the new guidelines. The two draft guidelines will be open for public consultation until Sept. 20 and is expected to come into effect in early 2025. The new guidelines will replace the interim advisory on the regulatory treatment of crypto-asset exposures, published in August 2022, OSFI said.
Persons: Peter Routledge, OSFI, Nivedita Balu, Marguerita Choy Organizations: Thomson Locations: Toronto
☆ Canadian regulator takes permanent control of SVB's Canadian assets
  + stars: | 2023-03-15 | by ( ) www.reuters.com   time to read: +1 min
March 15 (Reuters) - Canada's financial regulator said on Wednesday it had taken permanent control of the assets of Silicon Valley Bank's Canadian branch and was winding up the institution. "I took this action to effect an orderly transition of the Canadian branch of Silicon Valley Bank to the FDIC bridge bank," said Peter Routledge, superintendent of financial institutions. OSFI said an orderly, court-supervised process would allow operations of the Silicon Valley Bank unit to continue. The Canadian business is focused primarily lending to corporate clients and does not hold any commercial or individual deposits. OSFI said on Sunday said it was taking temporary control of Silicon Valley Bank's Canadian unit.
☆ Regulator takes control of Silicon Valley Bank's Canadian branch
  + stars: | 2023-03-13 | by ( Akriti Sharma Nia Williams | Akriti Sharma | Nia Williams | ) www.reuters.com   time to read: +2 min
March 12 (Reuters) - A Canadian banking regulator on Sunday said it was taking temporary control of Silicon Valley Bank's (SIVB.O) unit in the country, as the fallout from the collapsed U.S. startup-focused lender reverberated around the world. "By taking temporary control of the Canadian branch of Silicon Valley Bank, we are acting to protect the rights and interests of the branch's creditors," Peter Routledge, the superintendent of financial institutions, said in a statement. OFSI said the U.S.-headquartered bank has operated in Canada since 2019 as a foreign bank branch based in Toronto. Its business in Canada is primarily lending to corporate clients, and the branch does not hold any commercial or individual deposits in Canada. The Canadian unit had C$435 million ($315.33 million) in secured loans at the end of last year, more than double the amount at the end of 2021, according to regulatory filings.
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