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the canada deposit insurance corporation regulates quizlet

Canada Deposit Insurance Corporation | Société d’assurance-dépôts du Canada 6 . The primary role of the Corporation is to guarantee deposit protection to deposit holders with credit unions in Alberta. $20k in any one member institution and CDIC’s borrowing limit. Previous Versions. 10. was set at $500 million to give credibility to the deposit insurance plan and in recognition that it would take time to accumulate a sizeable ex -ante fund. Marginal note: Short title. For example, if you have a deposit in a chequing or savings account that is in your name alone, you will be protected for up to $100,000. Canada Deposit Insurance Corporation Act. They also regulate marketplaces and clearing agencies, oversee the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA), approve individuals and firms for registration based on proficiency and educational requirements and discipline them if needed. Federally, the Office of the Superintendent of Financial Institutions (OSFI) regulates the solvency and financial soundness of most P&C insurance companies. Payments Canada operates Canada… CDIC is a statutory corporation that provides deposit insurance for certain types of small deposits to member institutions. Table of Contents. R.S.C., 1985, c. C-3. Canada Deposit Insurance Corporation Application for Deposit Insurance By-law [Repealed, SOR/2006-236, s. 18] PDF [95 KB] SOR /93-515 Canada Deposit Insurance Corporation Co-owned and Trust Deposit Disclosure By-law [Not in force] Overview. Box 156 Toronto, Ontario M5K 1H1 Toll-free telephone service: 1-800-461-CDIC (2342) TTY: 613-943-6456 Fax: 613-996-6095 Website: www.cdic.ca E-mail: info@cdic.ca R.S.C., 1985, c. C-3. Short Title. 1 This Act may be cited as the Canada Deposit Insurance Corporation Act. Parliament established the Canada Deposit Insurance Corporation in 1967, to achieve the following: provide insurance against the loss of part or all of deposits; promote and otherwise contribute to the stability of the financial system in Canada; act for the benefit of depositors while minimizing loss. Property and casualty (P&C) insurance companies in Canada are regulated by federal and/or provincial regulators, called Superintendents of Insurance. 1 - Short Title 2 - Interpretation 2.1 - Her Majesty 2.2 - Powers, Etc., of Minister 3 - Constitution of the Corporation 7 - Objects, Powers and Duties 12 - Deposit Insurance 26.01 - Federal Institutions Without Deposit Insurance 27 - Inspection of Member Institutions 31 - Termination and Cancellation of Insurance The Canada Deposit Insurance Corporation (CDIC; French: Société d'assurance-dépôts du Canada) is a Canadian federal Crown Corporation created by Parliament in 1967 to provide deposit insurance to depositors in Canadian commercial banks and savings institutions.CDIC insures Canadians' deposits held at Canadian banks (and other member institutions) up to C$100,000 in case of a bank failure. Canada Deposit Insurance Corporation Act. An Act to establish the Canada Deposit Insurance Corporation. Previous Page Table of Contents Next Page. On September 16, 2016, Canada’s federal Department of Finance launched a consultation process on the deposit insurance framework. Canada Deposit Insurance Corporation Act. The consultation paper can be found here.The consultation process is to help determine whether the scope of targeted Canadian financial products requires adjustments to ensure the deposit insurance framework continues to serve Canadians effectively. PDF Full Document: Canada Deposit Insurance Corporation Act [807 KB] Act current to 2020-11-17 and last amended on 2020-10-01. The Credit Union Deposit Guarantee Corporation monitors and regulates the performance of credit unions in Alberta and the compliance of Alberta credit unions with the Credit Union Act. Canada Deposit Insurance Corporation 50 O’Connor Street, 17th Floor Ottawa, Ontario K1P 6L2 Toronto office Canada Deposit Insurance Corporation 1200–79 Wellington Street West P.O. 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