Frequently Asked Questions
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
- When is the Liquidator appointed?
- Does the borrower’s obligations to the institution continue after the institution is closed?
- Can a depositor leave his/her deposit with the transferee institution?
Did You Know?
- Misconception: Certificates, deposit books and other documentary evidence of deposits held in a member institution are not relevant to making claims in the event of a failure. - Fact: A claim, supported by appropriate proof, must be made to the Deposit Insurance Corporation before payment of deposit insurance can be made. As such, all information including certificates, deposit books bank statements etc. would be required to facilitate a smooth payout process. See Tips for Depositors.
