All creditors rank equally in terms of voting rights.
Frequently Asked Questions
- What does a deposit transfer involve?
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
- How is a depositor notified of the date and place of payment of his or her claim after an institution is closed?
- In the event of a deposit transfer, how will a depositor know when and where he can withdraw his funds?
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.
