| Governance structures |
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. |
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| Planned initiatives |
Response: Not applicable
Explanation: As per the information shared in the above sections, there are no planned initiatives to highlight where OSFI would apply and monitor GBA+ in 2020-21. OSFI’s policy and guideline development work is geared for institutions and therefore, by its very nature, does not apply GBA+. |
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| Reporting capacity and data |
Response: Not applicable
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. |
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