To ensure comparability, the details of the leverage ratio will be harmonised internationally, fully adjusting for differences in accounting (such as netting). These two measures will make international bank capital regulation look more like the existing capital regulations overseen by Canada’s Office of the Superintendent of Financial Institutions (OSFI). Other initiatives will be new, even to Canada: 1 iii.
Introduce a framework for countercyclical capital buffers above the minimum requirement. The Bank of Canada is working closely with OSFI and our international counterparts on proposed elements of this framework. iv.