The Government of Canada has
to the CDIC Act
to modernize and enhance CDIC deposit protection. These changes will be reflected on this website when they take effect. Until then, current coverage rules apply.
We insure up to $100,000 for each beneficiary named in a trust, provided certain
disclosure rules are met.
CDIC covers different types of trusts. Here are three examples:
- a grandmother (the trustee) deposits money in trust for her grandchildren (the beneficiaries) to use when they are adults.
- a lawyer (the trustee) holds a down payment in trust for clients (the beneficiaries) buying a house.
- a broker (the trustee) holds an investment in trust for clients (the beneficiaries).
To calculate deposit insurance,
we will combine all
eligible deposits within one trust held at the failed
CDIC member institution. The total is insured to a limit of $100,000 per beneficiary if the trustee meets
CDIC's disclosure rules.