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.

BREAKING DOWN '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.

  1. Early Warning Tests

    A series of financial ratios and other performance criteria used ...
  2. Bank

    A bank is a financial institution licensed as a receiver of deposits. ...
  3. Bank Insurance

    Bank insurance is a guarantee by the Federal Deposit Insurance ...
  4. Insurance Industry ETF

    A sector-following fund that invests primarily in insurance companies, ...
  5. Combination Agency

    A type of agency which combines segments that are normally separate. ...
  6. Bureau Rate

    A standard price per unit of insurance set by a state's insurance ...
Related Articles
  1. Personal Finance

    Are Your Bank Deposits Insured?

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

    Do you need a home inspection?

    This step is important when purchasing a property - it may save you thousands down the road.
  3. Insights

    Financial Regulators: Who They Are and What They Do

    Find out how these financial regulators govern the financial markets.
  4. Insurance

    Bundle Your Insurance For Big Savings

    Bundling your insurance can save you money and time. Read on to see how get the most out of multiline insurance discounts.
  5. Investing

    Introduction To The Chinese Banking System

    As China steps into a greater role in the global economic system, their banking system continues to evolve.
  6. Insurance

    12 Insurance Questions for High Net Worth Families

    High net worth families should ask themselves these 12 questions regarding comprehensive insurance.
  7. Financial Advisor

    The 6 Biggest Life Insurance Companies in Canada (GWO.TO, SLF)

    Read about the biggest life insurance companies in Canada, and learn about their business operations and the types of products they offer.
  8. Retirement

    7 Signs Your Pension Fund Is In Trouble

    Even if you're lucky enough to have a pension plan, you can't assume it'll pay out.
  9. Insurance

    The 5 Biggest Canadian Insurance Companies

    Learn more about the insurance industry as a whole, how it functions in Canada, and the five largest Canada-based insurance companies.
  1. Why are insurance companies and pension funds considered financial instruments?

    Find out why insurance companies and pension funds are considered carriers of financial instruments, and what role they play ... Read Answer >>
Hot Definitions
  1. Call Option

    An agreement that gives an investor the right (but not the obligation) to buy a stock, bond, commodity, or other instrument ...
  2. Standard Deviation

    A measure of the dispersion of a set of data from its mean, calculated as the square root of the variance. The more spread ...
  3. Entrepreneur

    An entrepreneur is an individual who founds and runs a small business and assumes all the risk and reward of the venture.
  4. Money Market

    The money market is a segment of the financial market in which financial instruments with high liquidity and very short maturities ...
  5. Perfect Competition

    Pure or perfect competition is a theoretical market structure in which a number of criteria such as perfect information and ...
  6. Compound Interest

    Compound Interest is interest calculated on the initial principal and also on the accumulated interest of previous periods ...
Trading Center