The Canadian government has introduced a new standardized format for deposit-taking organizations to submit Internal Capacity Adequacy Process (ICAAP) data.
The new regime will follow a more prescriptive template across a common risk taxonomy. These changes are intended to provide greater consistency and standardization.
The first returns under this new regime must be filed by March 31, 2024, using year-end data for small and medium-sized DTIs. Read more about the changes, how to prepare, and when to contact a third-party advisor below.
