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
- Must a claim be filed in person?
- Does the borrower’s obligations to the institution continue after the institution is closed?
- What happens if a depositor expects to be paid an amount that is different from what the DIC pays?
- Who should file a claim if more than one person is authorised to draw on an account?
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.
