Auditor General’s Award to CDIC for 2005 Annual Reporting

10 August 2006

Strong accountability to Canadians highlighted

OTTAWA, March 8, 2006 – CDIC has been selected to receive the 2005 Auditor General of Canada Award for Excellence in Annual Reporting by Crown Corporations. The award, launched in 1994, is given annually. CDIC won the award for the large Crown corporation category.

The Auditor General of Canada, Sheila Fraser, presented the award to CDIC Chairman Ronald N. Robertson and President Guy L. Saint-Pierre at a meeting of CDIC's Board of Directors.

"It is a special pleasure to receive this honour given CDIC's dedication to accountability and transparency. Through our annual reporting both in the summary of our corporate plan and our annual report, we inform Canadians about our work in protecting their insured deposits at our member institutions. Maintaining the trust and confidence of Canadians is paramount in fulfilling CDIC's mandate", said CDIC President Guy Saint-Pierre.

CDIC, a federal Crown corporation, provides insurance to depositors against the loss, in whole or in part, of deposits made at member institutions in the event of their failure. Eligible deposits are automatically insured up to $100,000 per person at each member institution. CDIC contributes to the stability of the Canadian financial system. CDIC is funded by premiums assessed on its member institutions and does not receive federal tax dollars.

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For further information:

Sophie Roux,
Manager, Communications and Public Affairs

Tel.: (613) 995-6548
Cell: (613) 612-1068
E-mail: sroux@cdic.ca