In this year\u0027s federal budget, bank watchers are waiting to see if Ottawa will increase the size of deposits covered by the CDIC. Read more.
in March, that change comes into effect on April Fool’s Day this year.
Most recently, a coalition of executives from smaller lenders in Canada, including Home Capital Group Inc. chief executive Yousry Bissada and Equitable Bank CEO Andrew Moor, sent a letter to federal finance minister and deputy prime minister Chrystia Freeland urging her government to Even the U.S. Federal Deposit Insurance Corp.’s standard coverage wasn’t considered enough when Silicon Valley Bank’s assets were seized by authorities March 10 following a run on deposits. Two days later, the U.S. Treasury, Federal Reserve, and the FDIC issued a joint statement saying that all depositors would be made whole, not just those below the US$250,000 cap.
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