Overview
Canada's consumer-driven banking framework will require federally regulated financial institutions to implement secure data sharing APIs. After years of consultation, legislation is expected to pass enabling Open Banking.
Note: Budget 2024 committed to Open Banking legislation. Implementation expected 2026-2027.
Jurisdiction
Scope & Coverage
This regulation covers the following areas and services:
Key Requirements
Timeline
Official Resources
Related Regulations
Other North America regulations you might be interested in:
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UK Open Banking
United Kingdom
The UK's CMA Order required the nine largest banks (CMA9) to implement open banking APIs. The OBIE d...
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Open API Framework
Hong Kong
Four-phase Open API framework for retail banks in Hong Kong. Started with product information and pr...
Open API Banking
Japan
Japan's Banking Act amendment established a framework for registered Electronic Payment Service Prov...
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