Office of the Superintendent of Financial Institutions
In February 2008, OSFI released a revised Guide to Intervention for Federally-Regulated DepositTaking 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 theintervention framework for federally regulated deposit-taking institutions. The Guide:
The revised Guide reflects the repeal of CDIC’s Standards of Sound Business and Financial Practicesand changes in other legislative powers. The Guide was also updated to reflect OSFI’s SupervisoryFramework as well as developments that have taken place in OSFI’s supervisory practices. A glossaryhas also been added to the Guide.
The Guide states that OSFI has primary responsibility for regulating and supervising federallyregulated deposit-taking institutions. The Guide also notes that CDIC will continue to monitormember institutions through its relationship with OSFI and may take necessary action depending onthe 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 firstname.lastname@example.org.