Backgrounder: Final Mortgage Insurer Capital Adequacy Test (MICAT) 2027
Why this matters
This is a final regulatory update from OSFI establishing new mandatory capital requirements under MICAT 2027. It introduces a new low-rise multi-unit residential construction category and adjusts risk weights (150% to 130% for low-rise; 150% maintained for high-rise), creating binding obligations for all mortgage insurers. The effective date of January 1, 2027, and the direct impact on capital adequacy frameworks for a specific regulated sector (mortgage insurers) warrant high urgency and a significance score of 5.
AI-generated classification rationale, not a full analysis. Verify with the original OSFI source before acting. Full disclaimer.
What the OSFI said
Backgrounder: Final Mortgage Insurer Capital Adequacy Test (MICAT) 2027
Published by OSFI . Read the full notice at the source for the authoritative text.
Context
Office of the Superintendent of Financial Institutions (OSFI) — Canada's prudential regulator for federally regulated financial institutions. We track 48 updates from them.
Canada's federally regulated financial institutions are overseen by OSFI. Browse all Canada updates.
This update is classified under Prudential / Capital Requirements, Insurance & Pensions and Mortgage & Lending.