CDIC welcomes Budget 2017 measures to protect financial stability

(firmenpresse) - OTTAWA, ONTARIO -- (Marketwired) -- 03/24/17 -- The Canada Deposit Insurance Corporation (CDIC) welcomes measures in Budget 2017, Building a Strong Middle Class that promote financial stability by strengthening Canada's deposit protection and bank resolution regime.

Enhancing the Bank Resolution Regime

In the 2017 budget, the Government proposes to introduce measures to:

"CDIC fully supports these initiatives by the Government," said CDIC President and CEO Michele Bourque. "These initiatives will enhance Canada's resolution framework for deposit-taking institutions."

Deposit Insurance Review

The budget also states the Government's intent to introduce legislative amendments to modernize and enhance the Canadian deposit insurance framework to better meet its objectives, including supporting financial stability.

"CDIC has protected the savings of Canadians for 50 years, and these measures will ensure that deposit protection keeps pace with the way Canadians bank and save today," said Ms. Bourque. "CDIC is working closely with the Department of Finance on this policy initiative."

CDIC is a federal Crown corporation that contributes to the stability of the Canadian financial system by providing deposit insurance against the loss of eligible deposits at member institutions in the event of failure. CDIC protects over $700 billion of savings held by its member institutions which 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. CDIC is funded by premiums paid by member institutions and does not receive public funds to operate.



Contacts:
Canada Deposit Insurance Corporation (CDIC)
Brad Evenson
Director, Communications and Public Affairs
613.943.4395

Weitere Infos zu dieser Pressemeldung:

Themen in dieser Pressemitteilung:


Unternehmensinformation / Kurzprofil:
Bereitgestellt von Benutzer: Marketwired
Datum: 24.03.2017 - 20:00 Uhr
Sprache: Deutsch
News-ID 532356
Anzahl Zeichen: 0

contact information:
Town:

OTTAWA, ONTARIO

Kategorie:

Insurance

Diese Pressemitteilung wurde bisher 253 mal aufgerufen.


Die Pressemitteilung mit dem Titel:
"CDIC welcomes Budget 2017 measures to protect financial stability"
steht unter der journalistisch-redaktionellen Verantwortung von

Canada Deposit Insurance Corporation (Nachricht senden)

Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).

CDIC is formally designated as Canada's resolution authority ...

OTTAWA, ONTARIO -- (Marketwired) -- 06/23/17 -- The Canada Deposit Insurance Corporation (CDIC) today welcomed changes to its mandate, which now formally designates CDIC as the resolution authority for Canada's largest banks.The designation rec ...

President of CDIC Discusses Deposit Protection with Canadians ...

TORONTO, ONTARIO -- (Marketwired) -- 02/08/17 -- As part of the celebration of the Canada Deposit Insurance Corporation's (CDIC) 50th anniversary year, Michele Bourque, President and CEO of CDIC, held a roundtable discussion with Canadians to ...

Media Advisory: CDIC 2017 Annual Public Meeting - Financial Literacy Panel Discu ...

OTTAWA, ONTARIO -- (Marketwired) -- 02/06/17 -- To commemorate CDIC's 50th anniversary year, the Annual Public Meeting will be held as a panel discussion that will include multi-generational views on the importance of deposit protection for Can ...

Alle Meldungen von Canada Deposit Insurance Corporation