Office of the Superintendent of Financial Institutions
The Office of the Superintendent of Financial Institutions (OSFI) is the primary regulator and supervisor of federally regulated financial institutions and federally administered pension plans. To help assess how well it is achieving its mandate, OSFI undertakes consultations and surveys with senior executives within the financial community.
A key element of OSFI's stakeholder consultations program is a biennial survey of CEOs in all federally regulated financial institutions, including banks and other deposit-taking institutions (DTIs), as well as life and property and casualty insurance companies. The last Financial Institutions Survey (FIS) was conducted in 2016-17.
The objective of this year's FIS was to provide a high-level assessment of OSFI's overall performance on a series of core measures, including:
To meet the objectives, an online survey was conducted with all active deposit-taking institutions and insurance companies being supervised by OSFI. Available in both official languages, the survey was online between October 24 and November 30, 2018. Of the 245 eligible institutions invited to complete the survey, 115 did so, which represents a solid response rate of 47%. Of the 115 respondents, 55 were deposit-taking institutions and 60 were insurance companies. Since the entire population was invited to participate in this study, there is no margin of sampling error to be estimated or reported.
The following are key findings from the survey:
The results of the research provide the data needed to meet OSFI's performance reporting commitments and enable OSFI to identify areas for improvement.
The final report is available on the Library and Archives Canada website.