Canada Deposit Insurance Corp. has announced changes that to its list of member institutions. CDIC has cancelled the policies of deposit insurance of Bank One Canada, CIBC Mortgage Corp., Deutsche Bank Canada, and Fortis Trust Corp.

Bank One Canada has transferred all its assets and deposits to the newly established Canadian branch of its parent, Bank One, NA. Bank One Canada has ceased accepting deposits and commenced its voluntary liquidation.

On May 31, 2001, CIBC Mortgage Corp. transferred its assets and deposits to CIBC Trust Corp. CIBC Mortgage Corp. no longer accepts deposits. Financial instruments and products from CIBC Mortage Inc. remain eligible for deposit insurance from CDIC. These products include GIC’s, RRSP GIC’s and RRSP savings accounts.”

Deutsche Bank Canada transferred all its assets and deposits to the recently established Canadian branch of its parent, Deutsche Bank AG. Deutsche Bank Canada ceased accepting deposits and has also started its voluntary liquidation.

Fortis Trust Corp. sold all its assets and had all its deposit liabilities assumed by The Bank of Nova Scotia. Fortis Trust Corp. has ceased operations and no longer accepts deposits.

CDIC membership now totals 94 institutions. The list of member institutions is available on CDIC’s Web site.