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. Federal Deposit Insurance Corporation ...

    The U.S. corporation insuring deposits in the U.S. against bank ...
  4. Toronto Stock Exchange - TSX

    The largest stock exchange in Canada. The Toronto Stock Exchange ...
  5. Canadian Deposit Insurance Corporation ...

    A crown corporation owned by the Canadian government that insures ...
  6. Net Premiums Written

    The sum of premiums written by an insurance company over the ...
Related Articles
  1. Are Your Bank Deposits Insured?
    Savings

    Are Your Bank Deposits Insured?

  2. Get To Know The Major Central Banks
    Forex Education

    Get To Know The Major Central Banks

  3. Are My Investments Insured Against Loss?
    Home & Auto

    Are My Investments Insured Against Loss?

  4. CDIC Protects Canadians From Bank Failure ...
    Retirement

    CDIC Protects Canadians From Bank Failure ...

comments powered by Disqus
Hot Definitions
  1. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  2. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  3. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  4. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
  5. Days Payable Outstanding - DPO

    A company's average payable period. Calculated as: ending accounts payable / (cost of sales/number of days).
  6. Net Sales

    The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any ...
Trading Center