Page 28 - CDIC Company Profile Ebook

Upon founding in 1985 Subsequent reforms

Termination of 2. There is a major fraud or other illegal activities occurring
deposit at an insured institution with the potential to increase the
insurance deposit insurance payout cost.
agreement In the aforementioned situations, the CDIC shall, after notifying
the competent authority or the central competent authority
of the agricultural finance, terminate the deposit insurance
agreement of the insured institution and make a public
announcement.

Disclosure None Addition in January 2007.
requirement of
eligibility of
deposit
insurance in
financial
products

Depositor The CDIC shall continue to protect Amendments adopted in January 2007:
protections upon the depositors' deposits up to the The CDIC shall continue to protect the depositors' deposits
termination of coverage limit for one year after up to the coverage limit for six months after the date of
deposit insurance the date of termination. termination.
agreement

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