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
- Are any other cash liabilities of financial institutions covered?
- What happens to those depositors whose accounts are subject to further examination?
- In the event of a deposit transfer, how will a depositor know when and where he can withdraw his funds?
- When can an eligible depositor expect to receive his or her money?
Did You Know?
- Misconception: Placing funds in different types of deposits such as CDs, Chequing, Savings with the same member institution would increase insurance coverage. - Fact: Deposits held by the same person in the same member institution in the form of CD’s, Chequing and Savings accounts are added together and insured up to a maximum of TT$125,000.