Frequently Asked Questions
- How quickly will the Liquidator make payments on certificates?
- What is the insurance coverage on a trust account held under the provisions of an irrevocable express trust?
- Does the borrower’s obligations to the institution continue after the institution is closed?
- What methods of payment may the DIC use in meeting its obligations to the depositors of a failed institution?
Did You Know?
- Misconception: Placing funds in any instrument offered by a member institution would be covered by the DIC - Fact: ONLY Savings Accounts (including interest), Current Accounts (including interest) and Fixed Deposit Accounts (including interest), inclusive of any outstanding balances due (uncleared deposits) to these accounts, are considered for deposit insurance coverage.
