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$125,000. 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 paid on a pro rata basis.
Frequently Asked Questions
- If a person has an interest in more than one joint account, what is the extent of his or her insurance coverage?
- Does the borrower’s obligations to the institution continue after the institution is closed?
- Who should file a claim if more than one person is authorised to draw on an account?
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
Did You Know?
- Misconception: Deposit insurance can be claimed while the member institution is still continuing in operation. - Fact: Deposit insurance is ONLY activated upon closure of a member institution.
