Definitions for "Canada Deposit Insurance Corporation"
A federal Crown corporation created in 1967 to protect the money deposited in financial institutions, up to $60,000, that are CDIC members in case of their failure.
A federal Crown corporation established in 1967 to protect Canadian currency deposits against the possible failure of member financial institutions (which include banks and trust and loan companies). As a general rule, eligible deposits are protected up to a maximum of $60,000 per person, including principal and interest, at each member institution.
a federal Crown corporation created to protect the money deposited into CDIC member financial institutions in case of their failure.