CDIC’s Statutory Objects and Role as a Crown Corporation
Statutory Objects
CDIC’s statutory objects, as set out in its legislation (CDIC Act), are to provide insurance against the
loss of part or all of deposits, and to promote and otherwise contribute to the stability of the financial
system in Canada. These objects are to be pursued for the benefit of persons having deposits with member
institutions and in such manner as will minimize the exposure of the Corporation to loss.
CDIC’s role as a Crown Corporation
Crown corporations play a vital role advancing government policy priorities and objectives in critical
industries throughout Canada especially when autonomy is a key requirement. Their structure and the financing
of Crown corporations allows “greater autonomy in the following two complementary ways:
- in terms of independence and credibility as non-partisan, non-political providers of services, such as
the promotion and development of cultural industries or the formulation and implementation of Canada’s
monetary policy; and,
- in terms of day-to-day operations (including the management of financial, human, and physical assets),
thereby enabling the organization to respond directly to customer demands in a business environment where
private sector companies would not be viable because of market size or the level of risk.”
