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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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Canada Deposit Insurance Corporation

Canada Deposit Insurance Corporation
Is a company established in 1967.

Website:http://www.cdic.ca
Synonyms:société d'assurance-dépôts du canada
Acronyms &
abbreviations:
CDIC
Relevant locations:Ottawa, Ontario, Canada
Year established:1967
Notes:Government of Canada federal crown corporation.
Filed Under: companies-associations, financial-banking, insurance
Tags: insurance
 

Definition of Canada Deposit Insurance Corporation (CDIC)

Canada Deposit Insurance Corporation (CDIC)
1. A crown corporation that provides deposit insurance for protection against the loss of deposits made with other member financial institutions.

Related Terms and Acronyms:

  • Canadian Investor Protection Fund (CIPF)   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   An act of putting a sum of money in to a bank account.
  • deposit insurance   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   Federal department responsible for Canada's economic performance and regulation of financial institutions.

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