Office Of The Superintendent Of Financial Institutions - OSFI

AAA

DEFINITION of 'Office Of The Superintendent Of Financial Institutions - OSFI'

An independent agency responsible for the regulation of banks, insurance companies, trusts and pension plans in Canada. The Office Of The Superintendent Of Financial Institutions reports to the Minister of Finance. It was formed in 1987 when the Department of Insurance and the Office of the Inspector General of Banks were combined.

INVESTOPEDIA EXPLAINS 'Office Of The Superintendent Of Financial Institutions - OSFI'

The OSFI is designed to maintain consumer confidence in the financial markets. To accomplish this, it guarantees the deposits through the Canadian Deposit Insurance Corporation (CDIC), reviews the pension plans of businesses to ensure that they are properly funded and helps mitigate the impact of financial issues that may crop up.

RELATED TERMS
  1. Canada Mortgage and Housing Corporation ...

    An organization sponsored by the Canadian government that provides ...
  2. Crown Corporation

    Any corporation that is established and regulated by a country's ...
  3. Toronto Stock Exchange - TSX

    The largest stock exchange in Canada. The Toronto Stock Exchange ...
  4. Federal Deposit Insurance Corporation ...

    The U.S. corporation insuring deposits in the U.S. against bank ...
  5. Canadian Deposit Insurance Corporation ...

    A crown corporation owned by the Canadian government that insures ...
  6. Commercial Package Policy (CPP)

    An insurance policy that combines coverage for multiple perils, ...
RELATED FAQS
  1. No results found.
Related Articles
  1. Savings

    Are Your Bank Deposits Insured?

    Learn how the FDIC is helping to keep your money in your pockets.
  2. Forex Education

    Get To Know The Major Central Banks

    The policies of these banks affect the currency market like nothing else. See what makes them tick.
  3. Home & Auto

    Are My Investments Insured Against Loss?

    Money invested in a brokerage account has some protection, but that doesn't mean you can't lose it.
  4. Retirement

    The History Of The FDIC

    Find out why this corporation was developed and how it protects depositors from bank failure.
  5. Retirement

    CDIC Protects Canadians From Bank Failure

    Bank failures can happen in Canada, but many deposits are insured. Find out what's covered.
  6. Options & Futures

    Who Backs Up The FDIC?

    The FDIC insures depositors against loss, but what happens if it runs out of money?
  7. Options & Futures

    Financial Regulators: Who They Are And What They Do

    Find out how these government agencies govern the financial markets.
  8. Insurance

    How to Use a Waiver of Subrogation

    A waiver of subrogation means that a party to a contract waives the right to allow someone (usually an insurance company) to sue the other party to the contract in case of a loss.
  9. Insurance

    How the Affordable Care Act Changed Insurance

    6 Ways Obamacare Impacts the Health Insurance Marketplace
  10. Insurance

    Why You Don’t Need Mortgage Protection Life Insurance

    Mortgage protection life insurance sounds great in concept - a guarantee that your mortgage will be paid off if you die unexpectedly. But take a hard look at what you get before choosing it.

You May Also Like

Hot Definitions
  1. Sunk Cost

    A cost that has already been incurred and thus cannot be recovered. A sunk cost differs from other, future costs that a business ...
  2. Technical Skills

    1. The knowledge and abilities needed to accomplish mathematical, engineering, scientific or computer-related duties, as ...
  3. Prepaid Expense

    A type of asset that arises on a balance sheet as a result of business making payments for goods and services to be received ...
  4. Gordon Growth Model

    A model for determining the intrinsic value of a stock, based on a future series of dividends that grow at a constant rate. ...
  5. Cost Accounting

    A type of accounting process that aims to capture a company's costs of production by assessing the input costs of each step ...
  6. Law Of Supply

    A microeconomic law stating that, all other factors being equal, as the price of a good or service increases, the quantity ...
Trading Center