Office of the Superintendent of Financial Institutions

The Office of the Superintendent of Financial Institutions (OSFI) is an independent agency of the Government of Canada, headquartered in Ottawa. Established in 1987, its core mission is to contribute to public confidence in the Canadian financial system. OSFI achieves this by protecting the rights and interests of depositors, policyholders, financial institution creditors, and pension plan members, while simultaneously allowing financial institutions to compete effectively and take reasonable risks.

OSFI's primary role involves regulating and supervising over 400 federally regulated financial institutions and approximately 1,200 private pension plans across Canada. This oversight extends to all banks in Canada, federally incorporated trust and loan companies, insurance companies (life, health, property, and casualty), cooperative credit associations, fraternal benefit societies, and foreign bank branches. The agency sets prudential standards, guidelines, and regulations, conducts examinations and stress tests, monitors and evaluates risks, and promotes sound risk management practices. A key tool is setting capital levels, such as the Domestic Stability Buffer, to ensure financial institutions maintain resilience. Additionally, the Office of the Chief Actuary, an independent unit within OSFI, provides actuarial valuation and advisory services to the Government of Canada.

Peter Routledge currently serves as the Superintendent of Financial Institutions, having been appointed in June 2021 for a seven-year term. Recent leadership changes include Angie Radiskovic's appointment as Deputy Superintendent, Supervision, effective June 10, 2026, and Jing Yang joining as Deputy Superintendent, Risk, Strategy and Policy, effective August 24, 2026. In April 2026, OSFI maintained the Domestic Stability Buffer at 3.5% and highlighted non-bank financial institution risk in its Annual Risk Outlook. Earlier in 2026, OSFI released a consultative document proposing a new senior leader regime to enhance accountability and suitability expectations for federally regulated financial institutions.