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What is Canada Deposit Insurance Corporation mean?
The Canada Deposit Insurance Corporation (CDIC; French: Société d'assurance-dépôts du Canada) is a Canadian federal Crown Corporation created by Parliament in 1967 to provide deposit insurance to depositors in Canadian commercial banks and savings institutions. CDIC insures Canadians' deposits held at Canadian banks (and other member institutions) up to C$100,000 in case of a bank failure. CDIC automatically insures many types of savings against the failure of a financial institution. However, the bank must be a CDIC member and not all savings are insured. CDIC is also Canada's resolution authority for banks, federally regulated credit unions, trust and loan companies as well as associations governed by the Cooperative Credit Associations Act that take deposits.
reference| Full Form | Category |
|---|---|
| Center for Data Intensive Computing | Academic & Science |
| Coastal Data and Information Center | Academic & Science |
| CardioDynamics International Corporation | Business |
| Canada Deposit Insurance Corporation | Business |
| Cyber Defense Initiative Conference | Community |
| Community Development Improvement Corporation | Community |
| China Daily Information Company | Community |
| Canadian Dairy Information Centre | General |
| Centre for Defence Industry Capability | General |
| Cosmetic and Dental Implant Center | Medical |
| Chronic Disease Innovation Centre | Medical |
| Chronic Disease and Injury Control | Medical |
| Canada Development Investment Corporation | Regional |
| Canadian Deposit Insurance Corporation | Regional |
Posted on 24 Oct 2024, this text provides information on Miscellaneous in Business related to Business. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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