Final answer:
The Bank of Canada is not responsible for prudential supervision of chartered banks; in Canada, this is mainly handled by the Office of the Superintendent of Financial Institutions (OSFI), while in the U.S., agencies including the OCC, FDIC, and Federal Reserve supervise banks.
Step-by-step explanation:
The Bank of Canada is not directly responsible for the prudential supervision of the chartered banks. In Canada, the supervision and regulation of banks are primarily handled by the Office of the Superintendent of Financial Institutions (OSFI). By contrast, in the United States, several agencies such as the Office of the Comptroller of the Currency (OCC), the Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC) are involved in bank supervision. These U.S. institutions are responsible for ensuring that banks maintain a positive net worth and manage their risks effectively.