Bank of Canada seeks feedback on open-banking accreditation rules

The Bank of Canada is asking financial institutions, technology providers and other stakeholders to comment on draft accreditation guidelines for Canada’s consumer-driven banking system.

Often called open banking, the framework is intended to let consumers authorize participating services to access and use their financial data. Under federal legislation, the central bank will supervise participants and set standards for governance, risk management and operational resilience.

The first draft guidelines cover application requirements for third-party service providers and participating entities. The Bank is asking whether the rules are clear, practical, complete and likely to discourage voluntary participation.

Written comments are due December 8, 2026. The Bank says additional draft guidelines will be released for consultation as the framework develops.

Source: Bank of Canada, regulatory notice published November 2, 2026.

Featured image: illustrative stock photo of a mobile financial application by Atlantic Money on Unsplash, used under the Unsplash Licence. It does not depict the Bank of Canada consultation or a Canadian open-banking service. Cropped/resized by WordPress.