Canada financial regulator raises banks’ domestic stability buffer to 3.5%

OTTAWA, June 20 (Reuters) – Canada’s financial regulator on Tuesday said it was raising the amount of capital the country’s biggest lenders must hold as a stability buffer by 50 basis points to 3.5%, citing stresses on the financial system.

The Office of the Superintendent of Financial Institutions (OSFI) in a statement said the change would come into effect on Nov 1, 2023. (Reporting by David Ljunggren; Editing by Mark Porter)