Frequently Asked Questions
- How does the closing of an institution affect interest accruing on a deposit?
- Which institutions depositors are insured by the DIC?
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
- Does the borrower’s obligations to the institution continue after the institution is closed?
Did You Know?
- Misconception: Depositors of a failed member institution would receive payment immediately upon closure of the failed member. - Fact: The legislation governing the operations of the Deposit Insurance system provides for payout to commence within 3 months of the closure of a member institution.
