X

CDIC meaning in Regional ?

( 5 )  .  1 Rating
1826 views   .  0 comments  .   . 

Download Solution PDF

Answer: What is Canadian 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

Take Quiz To Earn Credits!

Turn Your Knowledge into Earnings.




Give Rating
Report
Write Your Comments or Explanations to Help Others
Comments(0)





Miscellaneous in Regional
Miscellaneous in Regional

Ever curious about what that abbreviation stands for? fullforms has got them all listed out for you to explore. Simply,Choose a subject/topic and get started on a self-paced learning journey in a world of fullforms.

Explore Other Libraries

X

Important Regional Links





Copyright (c) 2021 TuteeHUB

OPEN APP
Channel Join Group Join