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Rulings
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Rulings describe how OSFI has applied or interpreted provisions of the federal financial institutions legislation, regulations or guidelines. They may provide guidance for other transactions where the relevant facts are the same or similar to those of a particular transaction or type of transaction. However, subsequent transactions may raise additional or different considerations that were not raised in a previous Ruling. Therefore, Rulings are not necessarily binding on OSFI's consideration of subsequent transactions.
Questions or comments regarding Rulings may be directed to the Legislation and Approvals Division.
Bank Act (BA)
Trust and Loan Companies Act (TLCA)
Insurance Companies Act (ICA)
Cooperative Credit Associations Act (CCAA)
| No. |
Subject |
BA |
TLCA |
ICA |
CCAA |
| 2007-03 |
Insurance in Canada of Risks – Financial Guarantee Insurance and Residual Value Insurance |
N/A |
N/A |
573(1) and (2) |
N/A |
| 2007-02 |
Control in Fact – Trustee or manager |
3
Minister's approval for a foreign bank or entity associated with a foreign bank
522.22
|
3 |
3 |
3 |
| 2007-01 |
Business in Canada – Access to the Canadian capital market |
510(1)(a) and (b) and 510(2) and (3) |
N/A |
N/A |
N/A |
| 2005-03-R1 |
Insurance in Canada of Risks – Group Policy |
N/A |
N/A |
573(1), 573(2) |
N/A |
| 2005-02 |
Classes of Insurance - Aquaculture insurance |
N/A |
N/A |
52(6), 572(1)(a) |
N/A |
| 2005-01 |
Capital Structure – Conversion of subordinated debt |
65, 69, 78, 80 |
68, 71, 81, 83 |
69, 72, 82, 84 |
74, 76, 85, 87 |
| 2004-08 |
Sanctions - Unauthorized use of the word "bank" |
983(2), 983(4) to (6.1) and (10) to(12) |
N/A |
N/A |
N/A |
| 2004-07 |
Foreign Bank Representative Offices - Asset management services |
522(a), Section 6 of the Foreign Bank Representative Offices Regulations |
N/A |
N/A |
N/A |
| 2004-06 |
Foreign Bank - Business in Canada - Realization of security interests |
510(1), 510(2) |
N/A |
N/A |
N/A |
| 2004-05 |
Physically settled commodity trading |
409(1), 409(2),410(2), 538(1), 538(2), 539(2) |
409(1), 410(2) |
440(1), 441(3) |
375(1), 376(3) |
| 2004-04 |
Foreign Banks - Business in Canada - Financing Program |
510(1); 510(2) |
N/A |
N/A |
N/A |
| 2004-03 |
Foreign Banks - Business in Canada - Mortgage loan administration services |
510(1); 510(3) |
N/A |
N/A |
N/A |
| 2004-02 |
Incorporation, Continuance and Discontinuance - Continuance of a Bank under the CBCA |
Given the 2007 amendments to the FRFI legislation, this document is no longer relevant and has therefore been withdrawn from the OSFI website. |
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| 2004-01 |
Business and Powers - Experience Refund Programs |
N/A |
N/A |
573(2) |
N/A |
| 2003-06 |
Foreign Banks – Foreign remittance activities through representative offices |
522(a) |
N/A |
N/A |
N/A |
| 2003-05 |
Foreign Banks – Small denomination notes |
545(1), 545(3) |
N/A |
N/A |
N/A |
| 2003-04 |
Classes of Insurance – Property Valuation Indemnity Insurance |
N/A |
N/A |
443(1), 573(2) |
N/A |
| 2003-03 |
Classes of Insurance – Vehicle title insurance |
N/A |
N/A |
443(1), 573(2) |
N/A |
| 2003-02-R1 |
Voluntary Liquidation – Outstanding deposit liabilities |
364, 366 |
369, 371 |
402, 404 |
348, 350 |
| 2003-01 |
Business and Powers - Acting as a service provider |
15, 409 |
14, 409 |
15, 440 |
16, 375 |
| 2002-01 |
Business and Powers - Acting as trustee for a trust |
412, 544 |
412 |
466 |
378 |
| 2001-03 |
Self-dealing - Deeming a party to be a related party |
486 |
474 |
518 |
410 |
| 2001-02 |
Capital Structure - Holding of shares in the FRFI or its controlling body corporate |
70 |
73 |
74 |
78 |
| 2001-01 |
Capital Structure -Conversion of shares |
65, 69, 77 |
68, 71, 80 |
69, 72, 81 |
74, 76, 84 |
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