OSFI (Canada's banking regulator) finalized a targeted change in its 2027 crypto capital guideline, published Sept. 10, allowing all regulated exchanges of traditional financial assets to be treated as one exchange when banks calculate delta risk for qualifying Group 2a crypto exposures. Positions in the same crypto asset on different qualifying regulated exchanges can therefore receive full capital recognition when they share the same time to maturity. The change is intended to reduce an exchange-specific capital overstatement for market-neutral strategies, which OSFI said banks primarily use for crypto exposures and whose prices tend to move almost identically across major regulated exchanges. The relief is conditional: exposures must meet the guideline's hedging-recognition tests covering product structure, regulatory approval or qualifying clearing, liquidity and data history. Unregulated exchanges remain outside the cross-exchange recognition, and maturity differences still matter. Group 2a covers crypto exposures eligible for limited hedging recognition, while Group 2b covers other Group 2 exposures and receives substantially stricter treatment. The framework retains a 94% correlation parameter for delta or vega capital within a Group 2a bucket, 100% delta and vega risk weights, and no diversification recognition across different Group 2a crypto assets. OSFI also kept the aggregate gross exposure limit for Group 2 crypto assets at 5% of Net Tier 1 capital, excluding certain client-clearing derivatives. The guideline takes effect Nov. 1, 2026, for institutions with an Oct. 31 fiscal year-end and Jan. 1, 2027, for institutions with a Dec. 31 fiscal year-end.