This is nothing but 5 minutes of fame for OSFI head Jeremy Rudin. This move is overreaching and overkill.  The high profile strength of the Vancouver and Toronto area housing markets have garnered interest from all levels of government. A number of steps have already been taken to try to tamp down home prices in these two markets, but this regulatory move by OSFI is not isolated to Toronto and Vancouver. People in towns across the country will be impacted by this move including those in already depressed housing markets. It is not OSFI's mandate to influence housing prices. There mandate is to manage the risks within the financial system. If this was about that, then why did OSFI not make a move in 2009 at the height of the financial crisis when institutions were at their most vulnerable? Financial Institutions have never been stronger. This move does nothing to accomplish its raison d'etre and only layers on another policy aimed at slowing two housing markets. But at what cost?