Royal bank of canada term deposit rates12/10/2023 ![]() ![]() In fact, the last time a Canadian institution required intervention from the CDIC was over twenty years ago in 1996. ![]() It’s extremely rare for a CDIC member firm to suffer a failure. The funding to support the CDIC comes directly from all member institutions who are required to pay premiums into the CDIC program. The CDIC is a Crown corporation that, with the authority of the Canadian government, is mandated to provide insurance for deposits held by CDIC member institutions. That’s why you should always look for the Canada Deposit Insurance Corporation (CDIC) logo when opening an account with a federally regulated deposit issuer. You deserve to know that the money you’ve entrusted to a financial institution is protected should that institution suddenly cease operations.
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |