Federal government considers raising deposit insurance limit to $150,000
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Digital Subscription
One year of digital access for only $205*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*First annual payment billed as $205.00 + GST for one year. This annual subscription will automatically renew at $233.00 + GST every 52 weeks (10% off the regular annual price of $259.35). Offer available to new and qualified returning subscribers only. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Your next Brandon Sun subscription payment will increase by $1.00 and you will be charged $17.95 plus GST for four weeks. After four weeks, your payment will increase to $24.95 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 22/07/2025 (444 days ago), so information in it may no longer be current.
OTTAWA – The federal government is looking for feedback on changes to Canada’s deposit insurance framework that could see the coverage limit raised to $150,000.
Right now, the Canada Deposit Insurance Corp. will guarantee Canadians’ deposits up to $100,000 in the event of a bank failure as long as they’re held with a member institution.
All large Canadian banks and many other financial institutions are a part of the CDIC framework, which covers most deposits and guaranteed investment certificates but not mutual funds, stocks, bonds or cryptocurrencies.
Finance Canada is asking Canadians and other stakeholders in the financial system to weigh in on the proposed higher limit and a few other potential changes by Sept. 26.
The department is also consulting on extending coverage for temporarily high balances tied to a disruptive life event and requiring banks to offer more upfront information to customers about what CDIC insurance covers.
Ottawa’s last review of the deposit insurance framework kicked off over a decade ago and saw coverage expanded for foreign currencies in 2018.
This report by The Canadian Press was first published July 22, 2025.