The Office of the Superintendent of Financial Institutions (OSFI) has announced the issuance of a Phase 2 consultation on a Climate Scenario Exercise for banks. According to the announcement, the exercise will involve various components including impact assessments on credit and market risks for commercial exposures, as well as evaluations of real estate and physical risk exposures.OSFI stated, "The final versions of these documents as well as a questionnaire (SCSE Questionnaire) will be released in late 2024." The regulator highlighted the importance of completing...
