Info Source: Sources of Federal Government and Employee Information

General Information

Introduction to Info Source

Info Source: Sources of Federal Government and Employee Information provides information about the functions, programs, activities and related information holdings of government institutions subject to the Access to Information Act and the Privacy Act. It provides individuals and employees of the government (current and former) with relevant information to access personal information about themselves held by government institutions subject to the Privacy Act and to exercise their rights under the Privacy Act.

The Introduction and an index of institutions subject to the Access to Information Act and the Privacy Act are available centrally.

The Access to Information Act and the Privacy Act assign overall responsibility to the President of Treasury Board (as the designated Minister) for the government-wide administration of the legislation.

Background

The background of the department can be viewed on the About Us page.

Responsibilities

The responsibilities of the department can be viewed on the About Us page.

Institutional Functions, Programs and Activities

Regulation and Supervision of Federally Regulated Financial Institutions Program

This program involves regulating and supervising federally regulated financial institutions (FRFIs) to determine whether they are in sound financial condition and are complying with their governing statute law and supervisory requirements; monitoring the financial and economic environment to identify issues that may impact these institutions negatively; and intervening in a timely manner to protect depositors and policyholders from undue loss, while recognizing that management and boards of directors are ultimately responsible, and that financial institutions can fail.

Costs for this program are recovered through base assessments and user fees and charges paid by the federally regulated financial institutions covered under the Bank Act, Trust and Loan Companies Act, Insurance Companies Act and Cooperative Credit Associations Act. The Office of the Superintendent of Financial Institutions also receives revenues for cost-recovered services to provinces, for which it provides supervision of their institutions on a fee for service basis.

This program has three sub-programs:

Risk Assessment and Intervention:

This sub-program involves the administration and application of an effective supervisory process to assess the safety and soundness of regulated financial institutions by evaluating an institution’s risk profile, financial condition, risk management processes, and compliance with applicable laws and regulations. This sub-program includes activities to monitor and supervise financial institutions; monitor the financial and economic environment to identify emerging issues; and intervene on a timely basis when a financial institution’s business practices may be imprudent or unsafe, by exercising supervisory powers to take, or require management or boards to take, necessary corrective measures as rapidly as possible to protect depositors and policy holders, while recognizing that all failures cannot be prevented.

Risk Assessments and Intervention of Federally Regulated Financial Institutions

Description: Records related to the supervision of regulated financial institutions (banks, trust companies and insurance companies) to determine whether they are in sound financial condition and are complying with their governing statute law and supervisory requirements. Records may include risk assessments; supervisory reviews; assessments of an institution’s business including control functions management and the board of directors; public and non-public information; reports; and regulatory filings received from regulated institutions. Records may also include information relating to the identification of deficiencies and the implementation of corrective measures.
Document Types: Guidelines, internal policies and procedures, regulatory consultations, reports, briefing and discussion papers, summaries of analyses, memoranda and correspondence, meeting agendas and minutes, presentations, time logs and notes.
Record Number: OSFI RAI 001

  • Reporting Obligations - Terrorist Financing
    Description: This bank describes information about individuals or representatives of entities listed as either involved in or associated with terrorist activity. The information is unmodified and is amalgamated from publicly available information from the Internet websites of the United Nations Security Council and Public Safety Canada (PSC). Personal information may include name, citizenship status, criminal checks/history, date and place of birth and identification numbers (e.g. passport number, country-specific identification and social security numbers.)
    Class of Individuals: Individuals and representatives of entities found in publicly available listings posted in accordance with the United Nations Al-Qaida and Taliban Regulations (UNAQTR) and the Regulations Implementing the United Nations Resolutions on the Suppression of Terrorism and the Criminal Code of Canada -Regulations Establishing a List of Names.
    Purpose: Personal information is used to assist all federally regulated financial institutions in fulfilling their legislative obligations relating to the reporting of suspected terrorist financing. The obligations of the financial institutions include submitting a monthly confirmation and statistical report back to OSFI and may also include submitting reports to the Royal Canadian Mounted Police (RCMP), Canadian Security Intelligence Service (CSIS), and the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Personal Information is collected pursuant to paragraph 4(2) of the Superintendent of Financial Institutions Act as follow: The objects of the Office, in respect of financial institutions, are; (a) to supervise financial institutions in order to determine whether they are in sound financial condition and are complying with their governing statute law and supervisory requirements under that law; (b) to promptly advise the management and board of directors of a financial institution in the event the institution is not in sound financial condition or is not complying with its governing statute law or supervisory requirements under that law and, in such a case, to take, or require the management or board to take, the necessary corrective measures or series of measures to deal with the situation in an expeditious manner; (c) to promote the adoption by management and boards of directors of financial institutions of policies and procedures designed to control and manage risk; and (d) to monitor and evaluate system-wide or sectoral events or issues that may have a negative impact on the financial condition of financial institutions.
    Consistent Uses: Information is publicly available on the OSFI Internet site. Information may also be used for evaluation and other reporting purposes.
    Retention and Disposal Standards: Under development
    RDA Number: 2001/001
    Related Record Number: OSFI RAI 001
    TBS Registration: 20100097
    Bank Number: OSFI PPU 020

Regulation and Guidance:

This sub-program involves advancing and administering a regulatory framework of rules and guidance that promotes the adoption by regulated financial institutions of sound risk management practices, policies and procedures designed to plan, direct and control the impact on the institution of risks arising from its operations. This program encompasses the issuance of regulations and guidance, input into federal legislation and regulations affecting financial institutions; contributions to accounting, auditing and actuarial standards; and involvement in a number of international regulatory activities.

Assessment of the Macroeconomic and Financial Environment and Related Risks

Description: Records related to the review of the macroeconomic environment and related risks in the financial sector, for example, expected growth of the Canadian economy and major trading partners.
Document Types: Reports, presentations, briefing notes and correspondence.
Record Number:
OSFI RMP 002

Banking and Insurance Regulation and Guidance

Description: Records related to the development of legislative and regulatory policy. Records may include information gathered from relevant agencies or advisory boards and their associated activities, international participation, industry associations and professional bodies. Records may also include guidelines, advisories, instruction guides, notices, implementation guides, policy papers, legislative and regulatory drafting instructions, internal policies and procedures; original research, statistics and summaries of analyses; and memoranda of understanding with other jurisdictions.
Document Types: Correspondence, briefing and discussion papers, reports, meeting agendas and minutes, presentations, legal opinions, regulations, memoranda, guidance documentation, and logs.
Record Number: OSFI RMP 001

Approvals and Precedents:

This sub-program deals with federally regulated financial institutions that are required to seek regulatory approval for certain types of transactions. This sub-program: evaluates and processes applications for regulatory consent; establishes positions on the interpretation and application of the federal financial institutions legislation, regulations and guidance; identifies precedential transactions that may raise policy or precedent-setting issues and develops recommendations that recognize the need to allow institutions to compete effectively while undertaking reasonable risks that do not unduly impact the Office of the Superintendent of Financial Institution’s primary stakeholders, the policyholders and depositors of FRFIs.

Approvals

Description: Records related to the analysis of regulatory applications submitted by financial institutions for activities requiring approvals under applicable legislation, for example incorporation, foreign branch entry or exit, business transfers, acquisitions of significant interests or control, and significant investments. Records include exchanges of correspondence with financial institutions and with other jurisdictions; requests for regulatory approvals from financial institutions; summaries of analyses; financial statements; actuarial reports and documents related to legislation or guidelines; regulations and related policy instruments; internal policies, guidelines, directives and procedures; legal opinions; indices or finding aids; correspondence with departments and other jurisdictions; ministerial correspondence; and formal approval documents, for example, letters patent, and orders to commence and carry on business.
Document Types: Correspondence, briefing and discussion papers, reports, meeting agendas and minutes, presentations, legal opinions, memoranda, financial statements, guidelines and notes.
Record Number: OSFI RAA 001

  • Approvals - Financial Institutions
    Description: This bank describes information related to security background checks on all new entrants (entities and individuals) proposing to establish a financial institution in Canada. The personal information may include name, contact information, biographical information, biometric information, citizenship status, criminal checks/history, date of birth, other identification numbers, place of birth and signature.
    Class of Individuals: Individuals and representatives of organizations (including shareholders, directors and senior officers) proposing to establish a financial institution in Canada.
    Purpose: Personal information is used to conduct assessments of the character and integrity of individuals affiliated with a financial institution. Personal information is collected under the authority of the following applicable legislative provisions: paragraphs 27(d), 228(4)(d), 396(1)(d), 526(d), 675(d), 808(4)(d) and 906(1)(d) of the Bank Act; paragraphs 27(d), 231(4)(d) and 358.1(d) of the Cooperative Credit Associations Act; paragraphs 27(d), 250(4)(d), 420(1)(d), 712(d), 862(4)(d) and 947(1)(d) of the Insurance Companies Act and paragraphs 26(d), 233(4)(d), 388(1)(d) of the Trust and Loan Companies Act.
    Consistent Uses: The information may be shared with applicable law enforcement and intelligence agencies, including the Royal Canadian Mounted Police (refer to Forensic Science and Identification Services and Canadian Criminal Real Time Identification Services, CMP PPU 030 and Operational Case Records, CMP PPU 005) and the Canadian Intelligence Service (refer to Canadian Security Intelligence Service Investigational Records, SIS PPU 045). The information may also be used or disclosed for evaluation and reporting purposes.
    Retention and Disposal Standards: Under development
    RDA Number: 2001/015
    Related Record Number: OSFI RAA 001
    TBS Registration: 20100096
    Bank Number: OSFI PPU 015
    Notes: Information is collected on the OSFI Security Information Form (OSFI 580).

Precedents

Description: Records related to the development of rulings, transaction instructions, advisories and related interpretations or guidance on a broad range of issue including self-dealing transactions, permitted activities in Canada by domestic and foreign entities, permitted investments, classes of insurance, control in fact and restrictions on corporate names.
Document Types: Correspondence, briefing and discussion papers, reports, meeting agendas and minutes, presentations, legal opinions, memoranda, guidelines, instruction guides, implementation guides, policy papers and notes.
Record Number: OSFI RAA 002

Regulation and Supervision of Federally Regulated Private Pension Plans Program

This program involves regulating and supervising federally regulated private pension plans to determine whether they are meeting minimum plan funding requirements and are complying with their governing law and supervisory requirements. This program provides risk assessments of pension plans covering employees in federally regulated areas of employment; timely and effective intervention and feedback to protect the financial interests of plan members and beneficiaries from undue loss, while recognizing that plan administrators are ultimately responsible, and that plans can fail; a balanced relevant regulatory framework; and a prudentially effective and responsive approvals process. This program incorporates risk assessment and intervention, regulation and guidance, and approvals and precedents related to federally regulated private pension plans under the Pension Benefits Standards Act, 1985. The costs for this program are recovered from pension plan fees based on the number of members in each federally regulated pension plan.

Pension Policy

Description: Records related to the development of pension related policies and guidance on inquiries. Records may include liaison with provincial authorities; legal opinions; summaries of analyses; memoranda and correspondence with departments and other jurisdictions; and ministerial correspondence.
Document Types: Correspondence, reports, meeting agendas and minutes, presentations, legal opinions, memoranda, communication logs and notes.
Record Number: OSFI RAA 003

Regulation and Supervision of Federally Regulated Private Pension Plans and Pension Policy

Description: Records related to the registration of pension plans and other types of regulatory approvals; development of pension related policies and guidance; correspondence regarding regulatory filings; examination of pension plans; liaison with provincial authorities; and, enquiries regarding pension plans. Records may include legal opinions; summaries of analyses; memoranda and correspondence with departments and other jurisdictions; and ministerial correspondence.
Document Types: Correspondence, reports, meeting agendas and minutes, presentations, legal opinions, memoranda, communication logs and notes.
Record Number: OSFI RAA 002

INTERNATIONAL ASSISTANCE (DISCONTINUED AS OF MARCH 31, 2010)

This program incorporates activities related to providing assistance to selected developing and emerging market economies to improve their supervisory systems in line with international banking and insurance supervisory standards, thereby enhancing the stability of the global financial system. In order to achieve efficiency and economy in program delivery and training of supervisors from many different jurisdictions, this program also collaborates with a number of regional banking and insurance associations and other technical assistance providers such as the Financial Stability Institute.

International Assistance

Description: Records related to formal and informal cooperation and liaison activities with other federal, provincial/territorial, municipal, and international governments/agencies/organizations to ensure the effective management of horizontal initiatives, communicate institutional activities, and promote integrated approaches to developing and delivering similar supervisory and regulatory approaches. Includes records related to the coordination of programs for international delegations and visits; the facilitation of information exchanges in areas of common interest, sharing knowledge, memoranda of understanding, expertise, and best practices; the development of joint service delivery initiatives in partnership; the reinforcement of strategic partnerships with established partners and creating new networks of influence to expand and intensify ties with other governments and/or organizations; and the building of more strategic relationships to advance institutional interests and priorities. May also include records related to outreach activities, the development of new strategic networks and partnerships, hosting and sharing information with international delegations, and attending international fora, roundtables, symposia and conferences.
Document Types: Minutes, agendas and records of decisions of multilateral and bilateral meetings, proceedings of symposia, roundtables and conferences, copies of bilateral and liaison agreements, drafts and final case study reports, memoranda of cooperation, records of consultation activities, international activity reports and memoranda of understanding.
Record Number: OSFI IAS 001

Actuarial Valuation and Advisory Services Program

The federal government and the provinces, through the Canada Pension Plan (CPP), public sector pension arrangements and other social programs have made commitments to Canadians and have taken on emanated responsibility for the financing of these commitments. Some are long-term and it is important that decision-makers, Parliamentarians and the public understand these and the inherent risks. This program plays a vital and independent role in this process. It provides checks and balances on the future costs of the different pension plans under its responsibilities.

This program provides a range of actuarial services, under legislation, to the CPP and some federal government departments. It conducts statutory actuarial valuations of the CPP, Old Age Security (OAS) and Canada Student Loans programs, and pension and benefits plans covering the Federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police (RCMP), federally appointed judges, and Members of Parliament.

The Office of the Chief Actuary (OCA) is funded by fees charged for its actuarial valuation and advisory services and by an annual parliamentary appropriation.

This program has three sub-programs:

Services to the CPP and OAS Program: This sub-program involves the conduct of statutory actuarial valuations of the Canada Pension Plan (CPP) and Old Age Security (OAS) Program. These valuations estimate the financial status of these plans and programs as required by legislation. This program estimates long-term expenditures, revenues and current liabilities of the Canada Pension Plan and estimates long-term future expenditures for Old Age Security programs. Pursuant to the Canada Pension Plan and the Public Pensions Reporting Act, the Office of the Chief Actuary prepares statutory triennial actuarial reports on the financial status of these programs, as required by legislation.

Canada Pension Plan and Old Age Security

Description: Records related to actuarial services and advice provided to the Government of Canada in respect of the Canada Pension Plan and the Old Age Security Program and includes statutory actuarial reports on these programs for tabling in Parliament; actuarial information related to government departments to assist in designing, funding and administering these programs; summaries of analyses; reports and documents related to legislation or guidelines; regulations and related policy instruments; legal opinions; correspondence with departments and other jurisdictions; and ministerial correspondence.
Document Types: Correspondence, briefing and discussion papers, reports, meeting agendas and minutes, presentations, actuarial evidence, memoranda of understanding, guidelines, and notes.
Record Number: OSFI CPP 001

Services to Public Sector Pension and Insurance Programs: This sub-program involves the conduct of statutory actuarial valuations of various federal public sector employee pension and insurance plans. These valuations estimate the financial status of these plans as required by legislation. Pursuant to the Public Pensions Reporting Act, this sub-program involves preparing statutory triennial actuarial reports on the financial status of federal public sector employee pension and insurance plans covering the federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police, the federally appointed judges and Members of Parliament. This sub-program supports plan members, thereby serving the public interest, by ensuring good governance of the plan, appropriate disclosure in the actuarial reports and contributing to the overall accountability of the plan sponsor to members. It also involves the provision of sound actuarial advice that assists different government departments in the design, funding and administration of these plans. As part of this program, the Chief Actuary submits the actuarial reports to the President of Treasury Board.

Public Sector Pension and Insurance Programs

Description: Records related to actuarial services and advice provided to the Government of Canada in respect of the Public Pension Plans and includes statutory actuarial reports on these programs for tabling in Parliament; actuarial accounting report for Public Accounts; actuarial information related to government departments to assist in designing, funding and administering these programs; actuarial valuations reports and cost estimates of government insurance (health, dental and life) and pension plans; requests to perform actuarial services for other departments including development and maintenance of administrative tools; summaries of analyses; reports and documents related to legislation or guidelines and related policies; correspondence with departments and other jurisdictions; and ministerial correspondence.
Document Types: Correspondence, briefing and discussion papers, reports, meeting agendas and minutes, presentations, actuarial evidence, memoranda of understanding, guidelines and notes.
Record Number: OSFI PPP 001

Services to the Canada Student Loans and Employment Insurance Program: Pursuant to the Student Financial Assistance Act, and the Employment Insurance Act, this sub-program involves the conduct of statutory actuarial valuations of the Canada Student Loans Program (CSLP) and the annual actuarial forecasts and estimates necessary to set the employment insurance premium rate. The sub-program also involves the preparation of a statutory actuarial report of the CSLP by evaluating the portfolio of loans and the long-term costs of the program. As part of this sub-program, the Chief Actuary submits the CLSP actuarial report to the Minister of Employment and Social Development and the employment insurance premium rate actuarial report to the Commissioners of the Canada Employment Insurance Commission.

Canada Student Loans Program

Description: Records related to actuarial services and advice provided to the Government of Canada in respect of the Canada Students Loans Program and includes statutory actuarial reports on this program for tabling in Parliament; actuarial information related to government departments to assist in designing, and administering this program; summaries of analyses; reports and documents related to legislation or guidelines; regulations and related policy instruments; legal opinions; correspondence with departments and other jurisdictions; and ministerial correspondence.
Document Types: Correspondence, briefing and discussion papers, reports, meeting agendas and minutes, presentations, memoranda of understanding, guidelines and notes.
Record Number: OSFI CSL 001

Employment Insurance Program

Description: Records related to actuarial services and advice provided to the Government of Canada in respect of the employment insurance premium rate and includes statutory actuarial reports on this program prepared; actuarial information related to government departments to assist in designing, and administering this program; summaries of analyses; reports and documents related to legislation or guidelines; regulations and related policy instruments; legal opinions; correspondence with departments and other jurisdictions; and ministerial correspondence.
Document Types: Correspondence, briefing and discussion papers, reports, meeting agendas and minutes, presentations, memoranda of understanding, guidelines and notes.
Record Number: OSFI EIP 001

Internal Services

Internal services constitute groups of related activities and resources that are administered to support the needs of programs and other corporate obligations of an organization. These groups are management and oversight services, communications services, legal services, human resources management services, financial management services, information management services, information technology services, real property services, materiel services, acquisition services, and travel and other administrative services. Internal services include only those activities and resources that apply across an organization and not to those provided specifically to a program.

Acquisition Services

Acquisition services involve activities undertaken to acquire a good or service to fulfill a properly completed request (including a complete and accurate definition of requirements and certification that funds are available) until entering into or amending a contract.

Communications Services

Communications services involve activities undertaken to ensure that Government of Canada communications are effectively managed, well coordinated and responsive to the diverse information needs of the public. The communications management function ensures that the public—internal or external—receives government information, and that the views and concerns of the public are taken into account in the planning, management and evaluation of policies, programs, services and initiatives.

Financial Management Services

Financial management services involve activities undertaken to ensure the prudent use of public resources, including planning, budgeting, accounting, reporting, control and oversight, analysis, decision support and advice, and financial systems.

Human Resources Management Services

Human resources management services involve activities undertaken for determining strategic direction, allocating resources among services and processes, as well as activities relating to analyzing exposure to risk and determining appropriate countermeasures. They ensure that the service operations and programs of the federal government comply with applicable laws, regulations, policies and plans.

Information Management Services

Information management services involve activities undertaken to achieve efficient and effective information management to support program and service delivery; foster informed decision making; facilitate accountability, transparency and collaboration; and preserve and ensure access to information and records for the benefit of present and future generations.

Information Technology Services

Information technology services involve activities undertaken to achieve efficient and effective use of information technology to support government priorities and program delivery, to increase productivity, and to enhance services to the public.

Legal services

Legal services involve activities undertaken to enable government departments and agencies to pursue policy, program and service delivery priorities and objectives within a legally sound framework.

Management and Oversight Services

Management and oversight services involve activities undertaken for determining strategic direction and allocating resources among services and processes, as well as those activities related to analyzing exposure to risk and determining appropriate countermeasures. They ensure that the service operations and programs of the federal government comply with applicable laws, regulations, policies or plans.

Materiel Services

Materiel services involve activities undertaken to ensure that materiel can be managed by departments in a sustainable and financially responsible manner that supports the cost-effective and efficient delivery of government programs.

Real Property Services

Real property services involve activities undertaken to ensure that real property is managed in a sustainable and financially responsible manner, throughout its life cycle, to support the cost-effective and efficient delivery of government programs.

Travel and Other Administrative Services

Travel and other administrative services include Government of Canada travel services, as well as those other internal services that do not smoothly fit with any of the internal services categories.

Classes of Personal Information

Supervision

Virtually all records held by OSFI consist of information relating to supervised financial institutions and pension plans. Some personal information may also be accumulated by OSFI in the course of conducting its supervisory function, such as information on names and functions of various company officials, information on individuals seeking to incorporate a new financial institution that would be supervised by OSFI, or information about a policyholder or depositor with a complaint against a supervised financial institution. Such personal information is stored as part of the general subject files where records are not retrieved by name of individual or other personal identifier. This form of personal information is normally retrievable only if specifics are provided concerning the financial institution, the individual, and the particular circumstances involved. The retention periods for these classes of personal information are controlled by the record schedules of the general subject files in which they are stored.

Manuals

  • Financial Accounting Policies
  • Internal Auditing Framework and Guidance
  • Receiver General Manual

Additional Information

The Government of Canada encourages the informal release of information. In this regard, you may wish to consult the summaries of the Office of the Superintendent of Financial Institution's completed Access to Information (ATI) requests. To submit an informal request for information that has been previously released, please contact the Access to Information and Privacy (ATIP) Office (see below).

Departmental information is also available through proactive disclosure as well as through the posting of reports and other publications.
To submit a formal request for access to records pursuant to either the Access to Information Act or the Privacy Act, please contact the ATIP Office (see below). You may also consult the Department’s formal access procedures.

The Department conducts Privacy Impact Assessments (PIAs) to ensure that privacy implications will be appropriately identified, assessed and resolved before a new or substantially modified program or activity involving personal information is implemented. The Department does not currently have any PIAs to report.

For additional information about the programs and activities of the Office of the Superintendent of Financial Institutions, please visit our website at: www.osfi-bsif.gc.ca.

Requests under the Access to Information Act and the Privacy Act should be addressed to:

ATIP Coordinator
Office of the Superintendent of Financial Institutions
255 Albert Street
Ottawa, Ontario K1A 0H2
Telephone: 613-998-4422
Facsimile: 613-990-0081
Email: atip-aiprp@osfi-bsif.gc.ca

Reading Room

In accordance with the Access to Information Act and Privacy Act, the applicant may wish to review material in person. The address is:

255 Albert Street, 16th Floor
Ottawa, Ontario