Payments, called dividends, depend on the rate of recovery from the liquidation of the assets of the institution, and the extent and priority of claims from other creditors of the institution. Final disbursements may take several years, depending on the type of assets to be realised.
Frequently Asked Questions
- In the event of a deposit transfer, how will a depositor know when and where he can withdraw his funds?
- Must a claim be filed in person?
- Will the Corporation offset a deposit balance held by a customer against the balance due on the loan?
- What happens to those depositors whose accounts are subject to further examination?
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.
