Current Financial Position
According to the CDIC's 2010 Annual Report, CDIC protects $590 billion CAD in total eligible deposits, and has $1.95 billion CAD in assets to meet insurance claims. This amount represents 0.33% of total eligible deposits. The CDIC is also authorized to borrow up to $17 billion if necessary from the federal government or the financial markets, and may request further funds from Parliament.
Read more about this topic: Canada Deposit Insurance Corporation
Famous quotes containing the words current, financial and/or position:
“Natural Man, in our current version, is a disgruntled adolescent.”
—Mason Cooley (b. 1927)
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“When asked whether or not we are Marxists, our position is the same as that of a physicist or a biologist who is asked if he is a “Newtonian” or if he is a “Pasteurian.””
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