{"id":9918,"date":"2010-02-28T23:32:40","date_gmt":"2010-03-01T03:32:40","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=9918"},"modified":"2010-02-28T23:32:40","modified_gmt":"2010-03-01T03:32:40","slug":"osfi-becoming-even-more-secretive","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=9918","title":{"rendered":"OSFI Becoming Even More Secretive?"},"content":{"rendered":"<p>Tara Perkins of the <i>Globe &#038; Mail<\/i> <a href=\"http:\/\/www.theglobeandmail.com\/report-on-business\/takeovers-grow-difficult-for-banks\/article1484694\/\">claims<\/a>:<\/p>\n<blockquote><p>Canada&#8217;s financial regulator has told banks and insurance companies they must finance any big takeovers by issuing new shares, making major acquisitions more difficult just as the country&#8217;s banks are at the height of their international prowess.<br \/><b>&#8230;<\/b><br \/>OSFI did not issue a written notice of its edict, but has been quietly advising the banks and insurers of the requirement. OSFI has told the financial institutions it oversees that it expects them to \u201cfinance material acquisitions through new equity,\u201d spokesman Rod Giles said. \u201cThis is primarily because capital requirements are subject to significant change.\u201d<br \/><b>&#8230;<\/b><br \/>Analysts who cover the banks say they were not aware that the regulator had told the institutions to pay for deals with new equity, but it&#8217;s likely the market would demand the same thing for any major deal because investors realize how important capital will be in the future.<\/p><\/blockquote>\n<p>Such secretiveness and back-door regulation is a disgrace if true &#8211; and OSFI has <a href=\"http:\/\/www.prefblog.com\/?p=5198\">often demonstrated its contempt for investors<\/a> &#8211; who are supposed to be the &#8220;third pillar&#8221; supporting bank safety.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tara Perkins of the Globe &#038; Mail claims: Canada&#8217;s financial regulator has told banks and insurance companies they must finance any big takeovers by issuing new shares, making major acquisitions more difficult just as the &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[],"class_list":["post-9918","post","type-post","status-publish","format-standard","hentry","category-regulation"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/9918","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9918"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/9918\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}