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.
