Guide to Intervention for Federally Regulated Deposit-Taking Institutions

Document Properties

  • Type of Publication: Letter
  • Date: February 26, 2008
  • Our File: P2878-10
  • To:
    • Banks,
    • Foreign Bank Branches,
    • Trust and Loan Companies,
    • Cooperative Credit Associations,
    • Bank Holding Companies

In February 2008, OSFI released a revised Guide to Intervention for Federally-Regulated Deposit
Taking Institutions
(the Guide). It replaces the Guide to Intervention for Federal Financial Institutions that was originally introduced in 1995.

The objective of the revised Guide remains to promote awareness and enhance transparency of the
intervention framework for federally regulated deposit-taking institutions. The Guide:

  • outlines the types of involvement that a federally regulated deposit-taking institution can
    normally expect from OSFI and the Canada Deposit Insurance Corporation (CDIC);
  • summarizes the circumstances under which certain intervention measures may be expected; and,
  • describes the coordination mechanisms in place between OSFI and CDIC.

The revised Guide reflects the repeal of CDIC’s Standards of Sound Business and Financial Practices
and changes in other legislative powers. The Guide was also updated to reflect OSFI’s Supervisory
Framework as well as developments that have taken place in OSFI’s supervisory practices. A glossary
has also been added to the Guide.

The Guide states that OSFI has primary responsibility for regulating and supervising federally
regulated deposit-taking institutions. The Guide also notes that CDIC will continue to monitor
member institutions through its relationship with OSFI and may take necessary action depending on
the condition of the member institutions as assessed in accordance with CDIC’s powers and objects.

Questions concerning the Guide to Intervention for Federally Regulated Deposit-Taking Institutions should be addressed to Patty Evanoff, Senior Director, Legislation and Approvals Division at (613) 990-9004 or by email at

  • Robert Hanna
  • Assistant Superintendent
  • Regulation Sector