Superintendent of Financial Institutions takes temporary control of the assets of the Canadian branch of Maple Bank

The Superintendent of Financial Institutions moved today to protect depositors and creditors of the Canadian branch of Maple Bank GmbH by taking temporary control of the assets of the branch. Maple Bank is headquartered in Germany; it maintains a foreign bank branch in Toronto that is supervised by the Office of the Superintendent of Financial Institutions (OSFI).

The Superintendent took this action to preserve the value of the assets held at the branch in light of the decision of the German prudential regulator to close the bank for business with customers.

View the news release.