Shareholders of a failed institution recover their investment only after all depositors and other creditors receive payment in full on their claims, including interest, in accordance with the laws governing liquidation.
Frequently Asked Questions
- Does the borrower’s obligations to the institution continue after the institution is closed?
- How quickly will the Liquidator make payments on certificates?
- Is the insurance protection increased by placing funds in two or more types of deposit accounts in the same institution?
- Which institutions depositors are insured by the DIC?
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.
