April, 2005 – Effective mechanisms for evaluating risks to financial institutions and private pension plans, programs to promote sound business and financial practices, and the capacity and willingness to intervene early to avoid or minimize prudential problems in regulated financial institutions and pension plans will continue to be the key ingredients of OSFI’s regulatory and supervisory approach.
In addition to intervening in emerging prudential problem situations, the need to develop regulations that ensure a level playing field for Canada’s financial institutions vis-�-vis their global competitors is an ever-present challenge. For example, in the next few years, OSFI will contribute to the development and implementation of updated international capital rules for banks and participate in the review of global capital standards for insurers.
The report includes:
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SECTION I – OVERVIEW
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MESSAGE FROM THE S UPERINTENDENT
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SUMMARY I NFORMATION
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OSFI’S PLANS AND P RIORITIES
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Regulated Entities
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OSFI’s Accountability Framework
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Program Activities
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Environmental Assessment
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Economic and Financial Environment
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Policy Environment
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Key Risks and Threats
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OSFI’s Plans and Priorities
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SECTION II – ANALYSIS OF ACTIVITIES BY STRATEGIC OUTCOME
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SECTION III – SUPPLEMENTARY INFORMATION
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SECTION IV – OTHER ITEMS OF INTEREST
The 49-page report, as a pdf, is available on the OSFI website at http://www.osfi-bsif.gc.ca/app/DocRepository/1/eng/reports/osfi/OSFI_RPP_2005_06_e.pdf/
OSFI
OSFI is the primary regulator of all federally incorporated financial institutions in Canada as well as federally administered private pension plans. As a separate unit, the Office of the Chief Actuary (OCA) provides actuarial and other services to the federal government. Above all, and without unduly restricting competitiveness, OSFI advances a modern regulatory framework that contributes to public confidence in Canada’s financial system. Such a framework also benefits financial institutions in their dealings with Canadians and with counter-parties in Canada and abroad. More details at http://www.osfi-bsif.gc.ca
