Personal Finance

CDIC: What are the changes to deposit insurance that take effect on April 30, 2020?

  • Last Updated:
  • May 14th, 2020 9:30 am
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CDIC: What are the changes to deposit insurance that take effect on April 30, 2020?

The deposit protection changes that take effect on April 30, 2020 include the following:
  • expanded coverage to include eligible deposits held in foreign currency
  • extended coverage to include all eligible deposits with terms greater than 5 years
  • deposit insurance protection will no longer be provided for travellers’ cheques
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