Office of the Superintendent of Financial Institutions
Response: Not applicable
Explanation: OSFI is a prudential financial regulator, focused on financial stability and on the solvency, liquidity, and safety and soundness of federally regulated financial institutions (FRFIs) and private pension plans.
OSFI is one of the agencies under the Finance Canada Portfolio. In the context of its legislative and regulatory work, including statutory amendments and regulatory amendments, work is normally led by the Department of Finance where OSFI’s role in this regard is typically a supporting role to the Department of Finance.
As such, and given its mandate and restricted clientele, OSFI does not have a GBA+ implementation plan in place.
Explanation: Given the information provided in the above section entitled “Governance structures”, OSFI does not have any FTE dedicated to GBA+ implementation.
Explanation: As per the information shared in the above sections, there were no major initiatives to highlight where OSFI would have applied and monitored GBA+. OSFI’s policy and guideline development work is geared for institutions and therefore, by its very nature, does not apply GBA+.
Explanation: Given its mandate, OSFI does not provide services or benefits to individual Canadians. Its clientele is restricted to federally regulated financial institutions and pension plans, which include all banks in Canada, and all federally incorporated or registered trust and loan companies, insurance companies, cooperative credit associations, fraternal benefit societies and private pension plans. OSFI’s scope of regulation does not include consumer or consumer-related issues or the securities sector, which are the responsibility of other agencies, both federal and provincial.
None of OSFI’s Programs collects individual recipient microdata information.