For example, the Canada Deposit Insurance Corporation (CDIC) has long had powers to restructure and resolve troubled deposit-taking institutions, and in 1996 federal legislation was amended to give the Superintendent of Financial Institutions the authority to temporarily take control of an institution, and if necessary, request a winding-up order, subject to certain prescribed conditions and approval of the Minister of Finance.
More recently, CDIC was granted the authority in 2008 to establish bridge banks to facilitate the restructuring of federally-regulated deposit-taking institutions.