United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office General Government Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 1995-09-28 monographic deposited born digital GA 1.13:GGD-95-223 https://www.govinfo.gov/app/details/GAOREPORTS-GGD-95-223 P0b002ee180397ac4 f:gg95223 DGPO 2010-08-12 2011-03-23 GAOREPORTS-GGD-95-223 machine generated eng fdlp REPORT GAOREPORTS-GGD-95-223 GGD-95-223 Financial institutions Banking regulation Banking law Bank management Foreign governments Bank examination Bank failures Deposit funds Reporting requirements International economic relations Canada Chapter Report GGD Pursuant to a congressional request, GAO reviewed the Canadian bank regulatory structure and its key participants.<p/>GAO found that: (1) the Office of the Superintendent of Financial Institutions (OSFI) is the primary supervisor of Canadian financial institutions and is responsible for incorporating financial institutions, issuing regulations and guidelines, taking enforcement actions, and resolving problems; (2) OSFI has the authority to examine all of the activities of Canadian financial institutions, but securities activities conducted in subsidiaries are reviewed by provincial securities regulators; (3) OSFI relies on external auditors for assessments of the institutions' financial statements or anything that might affect the institutions' well-being; (4) the Canada Deposit Insurance Corporation has a secondary supervisory role in issuing standards, but it takes the lead in resolving failed institutions; (5) the Minister of Finance has final decisionmaking authority over key supervisory decisions, such as closing an institution; (6) the Bank of Canada's supervisory role is limited to providing information to other participants in the decisionmaking process; (7) the four regulatory agencies share in certain financial responsibilities such as liquidity provision, crisis management, and international representation; and (8) two primary committees have been established to improve the relationships and sharing of information among the regulatory agencies. https://www.govinfo.gov/content/pkg/GAOREPORTS-GGD-95-223/html/GAOREPORTS-GGD-95-223.htm GAO/GGD-95-223 https://www.govinfo.gov/app/details/GAOREPORTS-GGD-95-223 Chapter Report GAO/GGD-95-223; Bank Regulatory Structure: Canada; Financial institutions Banking regulation Banking law Bank management Foreign governments Bank examination Bank failures Deposit funds Reporting requirements International economic relations Canada