![]() ![]() OFSI said the U.S.-headquartered bank has operated in Canada since 2019 as a foreign bank branch based in Toronto. "By taking temporary control of the Canadian branch of Silicon Valley Bank, we are acting to protect the rights and interests of the branch's creditors," Peter Routledge, the superintendent of financial institutions, said in a statement. ![]() The Office of the Superintendent of Financial Institutions (OSFI) said it is seeking to gain permanent control of the Canadian branch's assets, adding that it is asking the attorney general of Canada to petition for a winding-up order of operations.
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