Overview

• Finance Canada on July 22 launched the first comprehensive review of the Canada Deposit Insurance Corp. framework in over a decade to strengthen depositor protections.
• The consultation seeks to increase the insurance limit from $100,000 to $150,000 per depositor at member institutions.
• It also invites feedback on extending coverage for temporary high account balances tied to life events such as home transactions or retirement.
• Another proposal would require financial institutions to provide clearer, upfront disclosures about which deposits and guaranteed investment certificates are insured.
• Stakeholders, including the public and financial firms, can submit feedback online until Sept. 26, 2025, to shape the final reforms.