Part 6 – Division 2
Overview: Canada Deposit Insurance Corporation

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The Canada Deposit Insurance Corporation (CDIC) maintains a deposit insurance fund, into which CDIC member institutions pay annual premiums. CDIC is seeking to strengthen the prudent and efficient management of their growing fund in a way that mitigates financial stability concerns.

The Bank of Canada currently provides some banking and custodial services to foreign central banks, and is uniquely positioned to provide similar services for the CDIC deposit insurance fund.

Division 2 of Part 6 amends the Bank of Canada Act and the Canada Deposit Insurance Corporation Act to permit the Bank of Canada to provide banking and custodial services to the Canada Deposit Insurance Corporation.

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