Canada Deposit Insurance Corporation

Definition

  • A crown corporation that provides deposit insurance for protection against the loss of deposits made with other member financial institutions.

Website
http://www.cdic.ca

Relevant Locations
Ottawa, Ontario, Canada

Established Year
1967

Notes
Government of Canada federal crown corporation.

Synonyms
société d'assurance-dépôts du canada

Acronyms
CDIC

Related Terms and Acronyms

  • Canadian Investor Protection Fund (CIPF) Company Est. 1969, Canada, Important,
    • A Canadian not-for-profit that protects investors from a CIPF members' bankruptcy.
    Non-profit organization that provides investor protection for investment dealer bankruptcy.
  • Deposit Definition,
    • An act of putting a sum of money in to a bank account.
    • A sum of money put towards a given transaction. In a property purchase, a deposit signifies the intent to buy, which is paid to the vendor and applied to the principal cost.
  • Deposit Insurance Definition,
    • The Canada Deposit Insurance Corporation insures depositors' funds to a maximum of $60,000 per depositor, per institution, with some exceptions, in the event of the failure of a federal financial institution. Deposits in some provincial financial institutions are also covered.
  • Finance Canada Company, Canada-wide,
    • Federal department responsible for Canada's economic performance and regulation of financial institutions.
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