When an institution has been closed by the Central Bank and a winding-up order is issued by the Court, each depositor will be notified in writing at the depositor’s last address on record with the institution. This notification will be mailed shortly after the institution closes. Notification will also be given in the press.
Frequently Asked Questions
- Will the Corporation offset a deposit balance held by a customer against the balance due on the loan?
- How is a depositor notified of the date and place of payment of his or her claim after an institution is closed?
- How is a depositor notified that an institution in which he or she has a deposit, has been ordered to be 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: 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 …
