What is ‘Office Of The Superintendent Of Financial Institutions – OSFI’
An independent agency responsible for the regulation of banks, insurance companies, trusts and pension plans in Canada. The Office Of The Superintendent Of Financial Institutions reports to the Minister of Finance. It was formed in 1987 when the Department of Insurance and the Office of the Inspector General of Banks were combined.
Explaining ‘Office Of The Superintendent Of Financial Institutions – OSFI’
The OSFI is designed to maintain consumer confidence in the financial markets. To accomplish this, it guarantees the deposits through the Canadian Deposit Insurance Corporation (CDIC), reviews the pension plans of businesses to ensure that they are properly funded and helps mitigate the impact of financial issues that may crop up.
Further Reading
- International anti-money laundering and anti-terrorist financing: the work of the Office of the Superintendent of Financial Institutions in Canada – www.ingentaconnect.com [PDF]
- Supervisory Framework of Canada and Lessons to China s Financial Supervision – en.cnki.com.cn [PDF]
- The Regulation of Financial Institutions: A Reflective but Selective Retrospective – heinonline.org [PDF]
- Regulating financial institutions: The value of opacity – www.erudit.org [PDF]
- 10 “Playin'Along”: Canada and Global Finance – books.google.com [PDF]
- Trends in the organization of financial supervision over the ocean – www.ceeol.com [PDF]
- Mortgage Lending and Borrowing Regulatory Changes – ojs.library.dal.ca [PDF]
- Housing finance in Canada: Looking back to move forward – journals.sagepub.com [PDF]
- Overcapitalization Part I: A Note on CIBC and a Perspective on Canadian Banks, OSFI, and Basel I – papers.ssrn.com [PDF]
- Who pays for banking supervision? Principles and trends – www.emerald.com [PDF]
