OTTAWA - June 5, 2018 - The Canada Deposit Insurance Corporation (CDIC)’s Corporate Plan Summary was tabled today in Parliament.
The five-year plan identifies CDIC’s four strategic objectives for 2018-2019 to 2022-2023:
- Preparedness: Advancing resolution readiness
- Deposit insurance: Modernizing the deposit insurance program
- Stakeholders: Strengthening confidence and trust
- Work environment: Promoting innovation and adaptability
CDIC’s evolving role as deposit insurer and resolution authority are key drivers of the Plan.
“Our environment is changing at an ever-increasing rate and CDIC is keeping pace with emerging developments and trends,” said CDIC President and CEO Michèle Bourque. “Further modernization of the deposit insurance framework, enhanced operational readiness and continued strengthening of our relationships with key stakeholders will ensure CDIC remains adaptable and ready to effectively resolve any of our members, from the smallest to the largest.”
Summary of the Corporate Plan also includes a summary of CDIC’s 2018/19 operating and capital budgets and borrowing plan.
CDIC is a federal Crown corporation established in 1967 to protect the savings of Canadians, and we contribute to financial stability by safeguarding over $770 billion in deposits. As resolution authority, we are responsible for handling the failure of any of our members, from the smallest to the largest. Our members include banks, federally regulated credit unions as well as loan and trust companies and associations governed by the
Cooperative Credit Associations Act that take deposits. We are funded by premiums paid by member institutions and do not receive public funds to operate.
Director, Communications and Public Affairs