Fact: The legislation governing the operations of the Deposit Insurance system provides for payout to commence within 3 months of the closure of a member institution.
Frequently Asked Questions
- Must a claim be filed in person?
- 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?
- How does the closing of an institution affect interest accruing on a deposit?
Did You Know?
- Misconception: The uninsured balance, being that portion of deposit/(s) over TT$200,000 for which a certificate was issued, would never be honoured by the DIC. - Fact: A liquidator’s certificate is issued to the depositor by the Corporation for the unsecured balance being that portion of the deposit over TT$200,000. If, the realizations from the disposal of assets net of the subrogated claim of the deposit insurer results in a surplus, then unsecured balances would be …
