Who monitors the day-to-day operations of financial institutions with respect to their financial soundness?

Question

Quizplus · Accepted Answer

OFSI (Office of the Superintendent of Financial Institutions) is responsible for monitoring the day-to-day operations of financial institutions in Canada and ensuring their financial soundness. CDIC (Canada Deposit Insurance Corporation) is responsible for protecting depositors in case a financial institution fails, and OSC (Ontario Securities Commission) is responsible for regulating and overseeing the province's securities industry. The Bank of Canada is responsible for overseeing the overall stability of Canada's financial system.

Who Monitors the Day-To-Day Operations of Financial Institutions with Respect