{
  "title": "Canada: Report on the Observance of Standards and Codes",
  "publication": "IMF Staff Country Reports, February 3, 2014",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/canada-report-on-the-observance-of-standards-and-codes-41300",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2016/12/31/canada-report-on-the-observance-of-standards-and-codes-41300",
  "overlayPath": "/en/publications/cr/issues/2016/12/31/canada-report-on-the-observance-of-standards-and-codes-41300/index.md",
  "summary": "This paper discusses key findings of the Report on the Observance of Standards and Codes for Canada. Canada has a very high level of compliance with the Basel Core Principles for Effective Banking Supervision.",
  "sections": [
    {
      "heading": "Key findings",
      "content": "- Canada has a very high level of compliance with the Basel Core Principles for Effective Banking Supervision.\n- The Canadian banking supervisor (OSFI) has developed and is a strong proponent of risk-based, proportionate, supervisory practices.\n- OSFI applies a “close touch” approach to its supervised entities.\n- The supervisory approach is well structured, forward looking and maintained on as dynamic a basis as possible.\n- Entry to the Canadian market is subject to demanding prudential entry standards."
    },
    {
      "heading": "Supervisory approach and practices",
      "content": "- Risk-based, proportionate supervision is the central framework promoted by OSFI.\n- A “close touch” supervisory stance is applied to supervised entities, reflecting the structure and challenges of Canada’s market.\n- Emphasis on maintaining a forward-looking and dynamic supervisory framework."
    },
    {
      "heading": "Regulatory perimeter and market entry",
      "content": "- Prudential entry standards for the Canadian market are demanding, serving as a key element of the overall supervisory framework."
    },
    {
      "heading": "Thematic coverage",
      "content": "- Subjects addressed: Banking, Basel Core Principles, Financial institutions, Financial regulation and supervision, Insurance, Insurance companies, Legal support in revenue administration, Revenue administration, Securities.\n- Keywords included in the source: Basel Core Principles, CR, due diligence, financial market, Global, hedge fund, holding company, Insurance, Insurance companies, ISCR, Legal support in revenue administration, OSFI supervisor, risk management, Securities, securities regulator.\n\nSource: Canada: Report on the Observance of Standards and Codes (IMF Staff Country Reports).\n\n---\n\n Content in this bundle\n\n- Canada: Report on the Observance of Standards and Codes; IMF Country Report 14/30; January 2014\n  - Canada: Report on the Observance of Standards and Codes; IMF Country Report 14/30; January 2014 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Canada: Report on the Observance of Standards and Codes; IMF Country Report 14/30; January 2014 (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/cr/issues/2016/12/31/canada-report-on-the-observance-of-standards-and-codes-41300/index.md)",
    "[Structured JSON version](/en/publications/cr/issues/2016/12/31/canada-report-on-the-observance-of-standards-and-codes-41300/index.json)",
    "[Bundle manifest](/en/publications/cr/issues/2016/12/31/canada-report-on-the-observance-of-standards-and-codes-41300/bundle-manifest.json)",
    "Published: February 3, 2014",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781616359492.002",
    "Canada has a very high level of compliance with the Basel Core Principles for Effective Banking Supervision.",
    "The Canadian banking supervisor (OSFI) has developed and is a strong proponent of risk-based, proportionate, supervisory practices.",
    "OSFI applies a “close touch” approach to its supervised entities.",
    "The supervisory approach is well structured, forward looking and maintained on as dynamic a basis as possible.",
    "Entry to the Canadian market is subject to demanding prudential entry standards.",
    "Risk-based, proportionate supervision is the central framework promoted by OSFI.",
    "A “close touch” supervisory stance is applied to supervised entities, reflecting the structure and challenges of Canada’s market.",
    "Emphasis on maintaining a forward-looking and dynamic supervisory framework.",
    "Prudential entry standards for the Canadian market are demanding, serving as a key element of the overall supervisory framework.",
    "Subjects addressed: Banking, Basel Core Principles, Financial institutions, Financial regulation and supervision, Insurance, Insurance companies, Legal support in revenue administration, Revenue administration, Securities.",
    "Keywords included in the source: Basel Core Principles, CR, due diligence, financial market, Global, hedge fund, holding company, Insurance, Insurance companies, ISCR, Legal support in revenue administration, OSFI supervisor, risk management, Securities, securities regulator.",
    "**Canada: Report on the Observance of Standards and Codes; IMF Country Report 14/30; January 2014**"
  ],
  "related": [
    {
      "title": "Canada: Report on the Observance of Standards and Codes; IMF Country Report 14/30; January 2014",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2014/_cr1430.pdf",
      "summary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2014/_cr1430.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2014/_cr1430.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/cr/issues/2016/12/31/canada-report-on-the-observance-of-standards-and-codes-41300/index.md",
    "json": "/en/publications/cr/issues/2016/12/31/canada-report-on-the-observance-of-standards-and-codes-41300/index.json",
    "bundleManifest": "/en/publications/cr/issues/2016/12/31/canada-report-on-the-observance-of-standards-and-codes-41300/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-13T23:00:27.233Z"
}