Department of Finance Canada has opened public consultations and published a consultation paper as part of a review of Canada’s federal deposit insurance framework for federally regulated financial institutions, aimed at assessing whether depositor protection remains fit for purpose as the financial system evolves. Interested Canadians and stakeholders are invited to provide input on the paper’s questions and proposals by 26 September 2025. The review is being led by the Department of Finance Canada in collaboration with the Canada Deposit Insurance Corporation (CDIC) and other financial sector agencies; CDIC coverage is free and automatic for deposits at member banks and credit unions, and there has not been a deposit insurance payout in almost 30 years. The previous deposit insurance framework review began in 2014 and led to legislative changes in 2018, including extending coverage to foreign currency deposits, creating new categories to treat registered products consistently, and improving rules for trust deposit accounts.

Original source View in tracker