CDIC welcomes newest member J.P. Morgan Bank Canada
News releases
OTTAWA – November 1, 2022 – The Canada Deposit Insurance Corporation (CDIC) welcomes J.P. Morgan Bank Canada as its 86th member institution.
For more than 50 years, CDIC has protected Canadians’ deposits and promoted financial stability. Eligible deposits at J.P. Morgan Bank Canada will now be protected up to $100,000 in each of our eight deposit categories.
CDIC is a federal Crown corporation established in 1967 to protect the savings of Canadians, and we contribute to financial stability by safeguarding over $1 trillion in deposits in all our member institutions. As resolution authority, we are responsible for handling the failure of any of our members, from the smallest to the largest.
CDIC is funded by premiums paid by member institutions and does not receive public funds to operate. We have dealt with 43 member failures affecting some two million Canadians. No one has lost a dollar of deposits under CDIC protection.
Look for this logo to identify a CDIC member institution:
For more information about CDIC, please go to www.cdic.ca.
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For further information
Brad Evenson
Director, Communications and Public Affairs
Tel: 613-943-4395
E-mail: media@cdic.ca
