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During this period, resources were added to the Regulation and Supervision of Federally Regulated Financial Institutions program to address OSFI’s expanded mandate to include the oversight of Canada Mortgage and Housing Corporation’s (CMHC) commercial activities, increased work related to credit risk, a revised approach to assessing operational risk, and new work related to corporate governance. Spending in 2014-15 also included a one-time payment related to the Government of Canada’s (GoC) move to an employee compensation model of “pay in arrears”.
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