Request for information – Business performance and ownership

Under the authority of the Statistics Act, Statistics Canada is hereby requesting the following information, which will be used solely for statistical and research purposes and will be protected in accordance with the provisions of the Statistics Act and any other applicable law. This is a mandatory request for data.

Business dynamics

Corporate insolvency microdata

What information is being requested?

Information on corporations (legal names, trade names and addresses) that have filed for corporate insolvency is being requested.

What personal information is included in this request?

This request does not include personal information.

What years of data will be requested?

Monthly data beginning in 2006 (ongoing)

From whom will the information be requested?

This information is being requested from the Office of the Superintendent of Bankruptcy.

Why is this information being requested?

Statistics Canada is requesting the Corporate Insolvency Microdata to help provide timely statistics on permanent firm closures. The COVID-19 pandemic has led the Government of Canada to introduce a number of measures such as the Canada Emergency Wage Subsidy, the Canada Emergency Business Account and the Canada Emergency Commercial Rent Assistance Program to support businesses and limit the number of business failures during the pandemic. Timely measures of permanent business closures will provide information on whether the objectives of these support programs are being met. The success of these programs will directly impact Canadians, as the survival of businesses during the pandemic directly affects the employment opportunities available to Canadians.

Statistics Canada may also use the information for other statistical and research purposes.

Why were these organizations selected as data providers?

As part of its mandate, the Office of the Superintendent of Bankruptcy is responsible for administration of the Bankruptcy and Insolvency Act. As such, it maintains up-to-data data on corporate bankruptcies in Canada.

When will this information be requested?

November 2020 and onward (monthly)

When was this request published?

October 28, 2020

Financial statements and performance

Financial sector data

What information is being requested?

The desired information includes financial information from federally regulated financial institutions, including assets and debts aggregated by institution, with counterparty information broken out where available. The counterparty information will specify how much lending goes to each of the other sectors in the economy.

What personal information is included in this request?

This request does not contain any personal information.

What years of data will be requested?

All current data holdings, historical (as available), and on an ongoing basis.

From whom will the information be requested?

This information is being requested from the Office of the Superintendent of Financial Institutions (OSFI)

Why is this information being requested?

Statistics Canada is requesting this information to develop and publish statistics on financial activity and lender/borrower relationships in the Canadian economy. The National Economic Accounts, including the Financial and Wealth Accounts (FWA), contain estimates on financial services with related incomes, assets, and liabilities (i.e. debt) broken down by various levels of sector and instrument detail. The additional information will help validate and complement currently available data holdings.

As Canada's banking industry regulator, OSFI already collects this data. This acquisition will avoid duplication of efforts and prevent increased burden for respondents.

The overall result of acquiring these new data will be an increased level of quality and detail of national financial statistics. This means policymakers, researchers, and other data users will have a more precise and detailed portrait of the financial system in Canada.

Statistics Canada may also use the information for other statistical and research purposes.

Why were these organizations selected as data providers?

OSFI is the national regulator for the financial sector in Canada and thus has the legal authority to collect this type of detailed financial data.

When will this information be requested?

This information is being requested in September 2021.

What Statistics Canada programs will primarily use these data?

When was this request published?

August 18, 2021

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