Frequently Asked Questions
- Does the borrower’s obligations to the institution continue after the institution is closed?
- How does the closing of an institution affect interest accruing on a deposit?
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
- When is the Liquidator appointed?
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.
