Frequently Asked Questions
- How is a depositor notified of the date and place of payment of his or her claim after an institution is closed?
- What happens to those depositors whose accounts are subject to further examination?
- What happens to cheques which are not cleared on a depositor’s account before the business of the institution is closed?
- Are any other cash liabilities of financial institutions covered?
Did You Know?
- Misconception: The Deposit Insurance Corporation (DIC) is empowered to close a member institution. - Fact: A member institution licensed under the Financial Institutions Act, 2008 can only be “closed by or with the approval of The Central Bank of Trinidad and Tobago as a result of financial difficulties.”