Your deposit insurance coverage may be affected if a CDIC member institution amalgamates with another member.

CDIC considers an amalgamation to be:

• the merger of two or more CDIC member institutions into one, which continues business as a single member institution; or
• the acquisition of deposits from a CDIC member institution by another member institution.

We do not, however, consider the following situations to be amalgamations:

• common ownership of two or more CDIC member institutions, provided that each retains its CDIC membership and no deposits at one are assumed by another; or


• a merger or transfer of deposits between a CDIC member institution and a non-member institution.

If you have deposits at CDIC member institutions that amalgamate, we will maintain coverage of your insurable deposits at each institution as outlined below. This coverage gives you time to review your situation without being concerned about whether your deposits are still insured.

Last modified : 8 October 2001