As you may already be aware, OSFI has been communicating with all federally regulated financial institutions (FRFIs), in response to recent terrorist events.On October 2, 2001
Julie Dickson, Assistant Superintendent, Regulation Sector, issued a letter to all FRFIs, advising that the Government of Canada had enacted new regulations, entitled the United Nations Suppression of Terrorism Regulations(the Regulations), to assist in the fight against terrorism. The letter also outlined other measures taken by OSFI, including new FRFI reporting requirements (OSFI-525).

Copies of the October 2^nd letter and the Regulations are attached for ease of reference. Please note that although Foreign Bank Representative Offices (ROs) are not required to complete the OSFI-525 form, OSFI advises all Chief Representatives to familiarize themselves with the new Regulations, having particular regard for the applicability of sections 4 and 8. To that end, a consolidated list of individuals and entities whose property should be frozen and reported to the relevant authorities is now available on OSFI’s Web site (www.osfi-bsif.gc.ca) on the “On the Issues” page. This Consolidated List will be updated regularly.

As your Relationship Manager, I will be calling you in the next few days, to confirm receipt of this letter and to answer any questions that you might have.