OSFI Annual Report 2025-2026 - Office of the Superintendent of Financial Institutions

Publication type

Annual report

Date

October 13, 2026

I, Peter Routledge, on behalf of the Office of the Superintendent of Financial Institutions (OSFI), present OSFI’s Annual Report for the Fiscal Year 2025-26 reporting period. In my opinion, this report accurately presents the performance of OSFI. It is provided in accordance with section 40 of the Office of the Superintendent of Financial Institutions Act, section 40 of the Pension Benefits Standards Act, 1985, and section 78 of the Pooled Registered Pension Plans Act.

A letter from the Superintendent

Canada’s financial system is resilient because OSFI has contributed to its ability to withstand stress via prudent regulation and disciplined supervision. In so doing, we ensure our supervision and regulation reinforce the financial system’s ability to finance sustainable growth in Canada’s economy.

We cannot take resilience and growth for granted. We face rising economic, geopolitical, technological, and operational threats. Amid this dangerous landscape, OSFI supervises federally regulated financial institutions so they sustain the resilience they need to support growth in Canada’s economy.

This Annual Report highlights OSFI’s activities and key accomplishments from April 1, 2025 to March 31, 2026. This year, we made meaningful progress on priorities aimed at strengthening the resilience of Canada’s financial system while calibrating our actions to support Canada’s economic growth potential. We led with a risk-based, smart oversight approach, with greater emphasis on early risk identification, proportional intervention, and horizon scanning for emerging threats.

We also continued to integrate integrity and security risks into prudential oversight, recognizing that resilience depends not only on capital and liquidity, but also on sound governance, operational readiness, and reliable data.

As an independent unit within OSFI, the Office of the Chief Actuary (OCA) continued to provide high-quality actuarial analysis and advice that supported informed decision-making, transparency, and confidence in the long-term financial stewardship of key federal programs.

Guided by resource discipline and sound financial stewardship, we made deliberate trade-offs and focused on the highest-impact priorities: strengthening supervision, modernizing regulation, and reinforcing system-wide preparedness, and enhancing our operational resilience, cyber, and artificial intelligence (AI) capacity.

We will continue to sharpen our focus on risk, act early and decisively, and ensure Canada’s financial system remains stable, resilient, and competitive.

Peter Routledge
Superintendent