October 10, 2012 12:41 ET
OTTAWA, ONTARIO--(Marketwire - Oct. 10, 2012) - The Canada Deposit Insurance Corporation (CDIC) will be holding its 2012 Annual Public Meeting in Saskatoon, Saskatchewan on October 17, 2012. Journalists and members of the public are welcome to attend. CDIC will provide an overview about deposit insurance coverage and the role that CDIC plays in contributing to financial stability in Canada. Members of the audience will have the opportunity to ask questions.
CDIC is a federal Crown corporation that provides deposit insurance against the loss of deposits with its member institutions in the event of their failure. Eligible deposits are automatically insured from $1 to $100,000 per insurable category at each member institution. CDIC members include Canadian banks, loan companies and trust companies that take deposits, as well as retail associations governed by the Cooperative Credit Associations Act that take deposits. CDIC is entirely funded by premiums assessed on its member institutions and does not receive federal tax dollars. As at April 30, 2012, CDIC insured $645 billion in deposits at its member institutions.
Canada Deposit Insurance CorporationBrad EvensonDirector, Communications and Public Affairs (CDIC)(613) 996-2331 / Cell: (613) 853-8960(613) 947-0435 (FAX)firstname.lastname@example.org
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