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ARTICLE · 21 SEPTEMBER 2016

Targeted Review Of Deposit Insurance Launched

Norton Rose Fulbright Canada LLP
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On September 16th, the Department of Finance announced the launch of a public consultation on the deposit insurance regime for banks, federally regulated trust and loan companies and certain provincially regulated institutions.

CanadaFinance and Banking
Norton Rose Fulbright Canada LLP
Norton Rose Fulbright Canada LLP
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On September 16th, the Department of Finance announced the launch of a public consultation on the deposit insurance regime for banks, federally regulated trust and loan companies and certain provincially regulated institutions. There is no indication when the Government proposes to complete its review but comments are requested by November 30th.

The Consultation Paper states that the Government is generally comfortable with the current limit on deposit insurance ($100,000), and how deposit insurance works. However, comment is requested with respect to certain categories of deposits, and whether they should or should not be insured, and what is referred to as "trust deposits' which are deposits made for the benefit of someone else.

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