Property and casualty (P&C) insurance companies in Canada are regulated by federal and/or provincial regulators, called Superintendents of Insurance. Payments Canada operates Canada… 10. was set at $500 million to give credibility to the deposit insurance plan and in recognition that it would take time to accumulate a sizeable ex -ante fund. $20k in any one member institution and CDIC’s borrowing limit. Canada Deposit Insurance Corporation Act. You will also be protected for up to an additional $100,000 for each joint deposit you have provided each set of joint owners is different. They also regulate marketplaces and clearing agencies, oversee the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA), approve individuals and firms for registration based on proficiency and educational requirements and discipline them if needed. Table of Contents. For example, if you have a deposit in a chequing or savings account that is in your name alone, you will be protected for up to $100,000. Previous Versions. R.S.C., 1985, c. C-3. Canada Deposit Insurance Corporation 50 O’Connor Street, 17th Floor Ottawa, Ontario K1P 6L2 Toronto office Canada Deposit Insurance Corporation 1200–79 Wellington Street West P.O. 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. Short Title. Box 156 Toronto, Ontario M5K 1H1 Toll-free telephone service: 1-800-461-CDIC (2342) TTY: 613-943-6456 Fax: 613-996-6095 Website: www.cdic.ca E-mail: info@cdic.ca Canada Deposit Insurance Corporation Act. Canada Deposit Insurance Corporation Application for Deposit Insurance By-law [Repealed, SOR/2006-236, s. 18] PDF [95 KB] SOR /93-515 Canada Deposit Insurance Corporation Co-owned and Trust Deposit Disclosure By-law [Not in force] CDIC is a statutory corporation that provides deposit insurance for certain types of small deposits to member institutions. The primary role of the Corporation is to guarantee deposit protection to deposit holders with credit unions in Alberta. Parliament established the Canada Deposit Insurance Corporation in 1967, to achieve the following: provide insurance against the loss of part or all of deposits; promote and otherwise contribute to the stability of the financial system in Canada; act for the benefit of depositors while minimizing loss. PDF Full Document: Canada Deposit Insurance Corporation Act [807 KB] Act current to 2020-11-17 and last amended on 2020-10-01. ... Canada Deposit Insurance Corporation. The Credit Union Deposit Guarantee Corporation monitors and regulates the performance of credit unions in Alberta and the compliance of Alberta credit unions with the Credit Union Act. 1 - Short Title 2 - Interpretation 2.1 - Her Majesty 2.2 - Powers, Etc., of Minister 3 - Constitution of the Corporation 7 - Objects, Powers and Duties 12 - Deposit Insurance 26.01 - Federal Institutions Without Deposit Insurance 27 - Inspection of Member Institutions 31 - Termination and Cancellation of Insurance Overview. R.S.C., 1985, c. C-3. 1 This Act may be cited as the Canada Deposit Insurance Corporation Act. On September 16, 2016, Canada’s federal Department of Finance launched a consultation process on the deposit insurance framework. Canada Deposit Insurance Corporation Act. Canada Deposit Insurance Corporation | Société d’assurance-dépôts du Canada 6 . 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