US EditionFederal government considers raising deposit insurance limit to $150,000
- The federal government is considering raising Canada's deposit insurance limit to $150,000 from $100,000, as stated by Finance Canada.
- Finance Canada is seeking input from Canadians and stakeholders on the proposed changes by September 26, including temporary coverage for high balances linked to life events.
- The Canada Deposit Insurance Corp. currently guarantees deposits up to $100,000 with member institutions.
- The last review of the deposit insurance framework occurred over a decade ago, expanding coverage for foreign currencies in 2018.
12 Articles
12 Articles
Federal Government Considers Raising Deposit Insurance Limit to $150,000
The federal government is looking for feedback on changes to Canada’s deposit insurance framework that could see the coverage limit raised to $150,000. Right now, the Canada Deposit Insurance Corp. will guarantee Canadians’ deposits up to $100,000 in the event of a bank failure as long as they’re held with a member institution. All large Canadian banks and many other financial institutions are a part of the CDIC framework, which covers most depo…
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Federal government considers raising deposit insurance limit to $150,000
OTTAWA — The federal government is looking for feedback on changes to Canada's deposit insurance framework that could see the coverage limit raised to $150,000. Right now, the Canada Deposit Insurance Corp.
Bank deposit guarantee ceiling to be hiked to $72,000 in September
The ceiling on bank deposits guaranteed in case of bankruptcies will be doubled to 100 million won ($72,000) in September, the financial regulator said Tuesday. Late last year, the National Assembly p...
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