Fact: A liquidator’s certificate is issued to the depositor by the Corporation for the unsecured balance being that portion of the deposit over TT$125,000. If, the realizations from the disposal of assets net of the subrogated claim of the deposit insurer results in a surplus, then unsecured balances would be paid on a pro rata basis.
Frequently Asked Questions
- How is a depositor notified of the date and place of payment of his or her claim after an institution is closed?
- What is a DIC certificate?
- Will the Corporation offset a deposit balance held by a customer against the balance due on the loan?
- What happens if a depositor expects to be paid an amount that is different from what the DIC pays?
Did You Know?
- Misconception: Establishing more than one joint account in the same institution with the same names increases insurance coverage. - Fact: All joint accounts with the same names, notwithstanding alterations to the sequence of names, are added together and insured up to a maximum of TT$125,000.