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.”
Frequently Asked Questions
- How does a depositor establish an insurance claim?
- What is the insurance coverage on a trust account held under the provisions of an irrevocable express trust?
- If two or more persons, for example a husband and wife, have, in addition to the individually owned accounts of each, a valid joint account in the same insured institution, is each account separately insured?
- What types of deposits are insured?
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.”