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The Office of the Superintendent of Financial Institutions (OSFI) is a Canadian government agency responsible for the regulation and supervision of all banks, insurance companies, and pension plans in Canada. It is widely known as the financial safety monitor of the Canadian economy, working closely with other government agencies, such as the Canada Deposit Insurance Corporation (CDIC) and the Financial Consumer Agency of Canada (FCAC).
OSFI’s mandate is to protect Canadians and the stability of financial institutions. To do so, OSFI sets and monitors rules for federally-regulated financial institutions, including banks, insurance companies, and pension plans. This helps ensure depositors, policyholders, creditors, and pension plan members are protected. OSFI also sets guidelines on how these financial institutions should be managed and operate, as well as provide guidance on how customers should be treated.
OSFI works to ensure the safety and soundness of financial institutions by closely analyzing risk. This helps to protect people’s money, as well as protect against criminal activities, such as fraud. OSFI also closely monitors activities in capital markets and assesses the risks associated with capital markets transactions. The agency inspects federally-regulated financial institutions to ensure they comply with the rules set by OSFI.
In addition to regulating and supervising financial institutions, OSFI guarantees bank deposits through its partnership with the Canadian Deposit Insurance Corporation (CDIC). The CDIC is an independent Canadian government corporation that administers the Canada Deposit Insurance Plan (CDIP). The CDIP covers deposits for up to $100,000 in the event of a financial institution failure, protecting Canadians’ deposits.
By providing federal oversight of financial institutions and pension plans, OSFI serves an important role in helping to protect Canadians and the stability of the entire financial system. For more information, including how to report suspected fraud or irregularities, please visit the OSFI's website.
OSFI’s mandate is to protect Canadians and the stability of financial institutions. To do so, OSFI sets and monitors rules for federally-regulated financial institutions, including banks, insurance companies, and pension plans. This helps ensure depositors, policyholders, creditors, and pension plan members are protected. OSFI also sets guidelines on how these financial institutions should be managed and operate, as well as provide guidance on how customers should be treated.
OSFI works to ensure the safety and soundness of financial institutions by closely analyzing risk. This helps to protect people’s money, as well as protect against criminal activities, such as fraud. OSFI also closely monitors activities in capital markets and assesses the risks associated with capital markets transactions. The agency inspects federally-regulated financial institutions to ensure they comply with the rules set by OSFI.
In addition to regulating and supervising financial institutions, OSFI guarantees bank deposits through its partnership with the Canadian Deposit Insurance Corporation (CDIC). The CDIC is an independent Canadian government corporation that administers the Canada Deposit Insurance Plan (CDIP). The CDIP covers deposits for up to $100,000 in the event of a financial institution failure, protecting Canadians’ deposits.
By providing federal oversight of financial institutions and pension plans, OSFI serves an important role in helping to protect Canadians and the stability of the entire financial system. For more information, including how to report suspected fraud or irregularities, please visit the OSFI's website.