OSFI

Remarks by Superintendent Jeremy Rudin

Passion, Persistence and Effective Regulation and Supervision

"I will conclude by conceding that the risk landscape that I have sketched for you is sobering. ... The good news is that the Canadian banking system continues to demonstrate the resilience for which it is known around the world. Of course, this is no reason for complacency, whether in the industry or at OSFI. But it is a good jumping off point for what lies ahead.”

Continue reading: Remarks by Superintendent Jeremy Rudin to the 2021 RBC Capital Markets Canadian Bank CEO Conference

image text: COVID-19 updates

OSFI launches consultation on climate-related risks in the financial sector

Today the Office of the Superintendent of Financial Institutions (OSFI) launched a three-month consultation with the publication of a discussion paper, Navigating Uncertainty in Climate Change: Promoting Preparedness and Resilience to Climate-Related Risks. The paper focuses on risks arising from climate change that can affect the safety and soundness of federally regulated financial institutions (FRFIs) and federally regulated pension plans (FRPPs).

Remarks by Superintendent Jeremy Rudin

A complex climate: Charting a path for an uncertain future

“Our assigned role is to ensure that Canadians will continue to enjoy financial stability as climate-related risks become a reality in Canada. This is an essential role, and we are the only arm of the Government of Canada that is equipped to do this. So we are very focused on that task.”

Continue reading: A complex climate: Charting a path for an uncertain future

Remarks by Assistant Superintendent, Sanjiv Talwar

“While institutions and regulators have experience with a seasoned and tested regime for managing the more traditional financial risks, the elements that we at OSFI and other regulators are considering more closely are the non-financial risks - those that relate to people, technology and organizational culture; and how to pursue operational resilience. COVID-19 has amplified these risks and tested the effectiveness of traditional regulatory responses…”

Continue reading: Assistant Superintendent Sanjiv Talwar speaks about regulatory outlook

 

About OSFI

The Office of the Superintendent of Financial Institutions (OSFI) is an independent agency of the Government of Canada, established in 1987 to contribute to the safety and soundness of the Canadian financial system. OSFI supervises and regulates federally registered banks and insurers, trust and loan companies, as well as private pension plans subject to federal oversight.

Superintendent

Jeremy Rudin 

Our Partners

OSFI works closely with its federal partners, including the Department of Finance, the Bank of Canada, the Canada Deposit Insurance Corporation and the Financial Consumer Agency of Canada.

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