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Payments Canada welcomes inclusion of the Retail Payments Oversight Framework in 2021 federal budget


Payments Canada welcomes inclusion of the Retail Payments Oversight Framework in 2021 federal budget
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OTTAWA, ON, April 19, 2021 /CNW/ - Payments Canada applauds the inclusion of the Retail Payments Oversight Framework (RPOF), and its oversight by the Bank of Canada, as part of the 2021 federal budget,
The implementation of the Retail Payments Oversight Framework is a welcome addition to Canada s payments system, said Anne Butler, Chief Legal Officer and Vice President of Policy and Research. By including RPOF in the budget, the Canadian government acknowledges the importance of modern payments regulation and broader access to Canada s national payments systems. Implementing RPOF is a key step towards Payments Canada s ability to safely open our systems for payments service providers to participate and compete in Canada s payments market.   ....

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Annual Review Of Federal Financial Institution Legislation - Coronavirus (COVID-19)


In a statement issued by the Superintendent
released on July 13, 2020, OSFI signalled a gradual restart of
OSFI s policy development work in the fall of 2020. On August
31, 2020, OSFI announced in a series of letters issued to industry that it
would unwind certain of the temporary measures put in place at the
beginning of the pandemic, including a gradual phaseout of the
special capital treatment of loan and insurance premium payment
deferrals that was provided to banks and insurers.
On December 12, 2020, OSFI announced that the domestic stability buffer
would remain at one per cent of total risk-weighted assets, stating
that DSB reduction in March continues to be effective and ....

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