Canada: Financial Sector Assessment Program-Basel Core Principles for Effective Banking Supervision-Detailed Assessment of Observance

International Monetary Fund

No 2014/071, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper focuses on the IMF report on detailed assessment of observance of Basel Core Principles (BCP) for effective banking supervision in Canada. The Canadian banking supervisor (OSFI) adopts a close and cooperative approach that supports the close network of federal authorities in identifying and seeking to mitigate prudential risks to the federal system. As a world-leading regulator, OSFI could be expected to issue a comprehensive suite of risk management standards to be available to all banks, even if at a relatively high level or based largely on Basel Committee for Banking Supervision guidance.

Keywords: ISCR; CR; risk management; parent company; risk profile; senior management; credit risk; corporate governance; internal audit; risk assessment; risk appetite; Credit risk; Operational risk; Market risk; Foreign banks; Global (search for similar items in EconPapers)
Pages: 239
Date: 2014-03-07
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