(March 6 – 13:00 ET) – Canada Deposit Insurance Corp. has released the latest changes to its list of member institutions.

CDIC has approved applications for deposit insurance from three financial institutions: Industrial-Alliance Trust Co., Amicus Bank, and Computershare Trust Co. of Canada. Under the Canada Deposit Insurance Corporation Act, a financial institution’s membership officially takes effect when it accepts its first deposit eligible for deposit insurance.

CDIC has cancelled the policies of deposit insurance of ScotiaLoan Co. and of Mellon Bank Canada. The two companies have ceased taking deposits.

CDIC membership now totals 101 institutions. The complete list of member institutions is available on CDIC’s Web site.
-IE Staff