Frequently Asked Questions
- What happens to those depositors whose accounts are subject to further examination?
- How does the closing of an institution affect interest accruing on a deposit?
- When can an eligible depositor expect to receive his or her money?
- What happens to cheques which are not cleared on a depositor’s account before the business of the institution is closed?
Did You Know?
- Misconception: The Deposit Insurance Corporation (DIC) is empowered to close a member institution. - Fact: A member institution licensed under the Financial Institutions Act, 2008 can only be “closed by or with the approval of The Central Bank of Trinidad and Tobago as a result of financial difficulties.”
