Frequently Asked Questions
- What procedure does the DIC follow after an institution has been closed?
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
- Will the Corporation offset a deposit balance held by a customer against the balance due on the loan?
- Are any other cash liabilities of financial institutions covered?
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.