Latest
  1. Johns Hopkins Bayview tells 3,182 patients an employee put their health data into a public AI tool
  2. China’s AI compute access expected to double in 2027, with US-designed chips about 65 per cent
  3. UK commits £100m to national AI Biosecurity Lab
  4. Moonshot AI releases Kimi K3.1 Pro with 1-million-token context window
  5. Residents in Newport and Cardiff oppose hyperscale datacentres near homes
  6. Study: Grok 4.7 picked Republicans in 92% of forced midterm answers, GPT-6.1 Sol picked Democrats in 97%
  7. Attackers exploiting the PHP flaws hand the break-in to AI agents, Unit 42 says
  8. Elvis Presley’s rightsholders sue Anthropic over training on 274 songs

Latest / Finance

Rule changeFinanceCanadaConfirmed

OSFI finalises model risk guideline E-23, covering AI models at banks and insurers

See how this story connects

Source: OSFIAlso reported by Blakes

Canada’s Office of the Superintendent of Financial Institutions published the final Guideline E-23, Model Risk Management (2027), on 11 September 2025, effective 1 May 2027. Its definition of a model includes AI and machine-learning methods, and it addresses explainability, autonomous decisions and model drift. It applies to banks, foreign bank branches, insurers and trust and loan companies; pension plans, covered in the draft, were removed.

Why it matters

Federally regulated banks and insurers in Canada must keep AI models in a risk-rated inventory and under lifecycle controls by May 2027.

When
11 Sep 2025
ID
WTA-N-2025-0115
Where
Canada
Who
OSFI
Rules involved

Summary by wheresthe.ai, from OSFI and the reporting credited above. Checked against the source on 9 Oct 2026.

Read the original at OSFI

Source copy: download the source PDF as saved on 18 Oct 2026 (PDF). Document the source offers: the source PDF. Also held by the Internet Archive.

Earlier in this Storyline: What led hereCanada’s OSFI drafts model risk guideline covering AI and machine learning models

Cite this story

WTA-N-2025-0115: “OSFI finalises model risk guideline E-23, covering AI models at banks and insurers.” wheresthe.ai, 11 Sep 2025. https://wheresthe.ai/d/ca-osfi-guideline-e23-final-2025-09/ (source: OSFI).

Spotted an error? Email [email protected].