CDIC meets to discuss protecting depositors in a dynamic financial environment

OTTAWA – November 6, 2024 – The Canada Deposit Insurance Corporation (CDIC) held its Annual Public Meeting today via live webcast. Leah Anderson, President and Chief Executive Officer, was joined by Robert Sanderson, Chair of the Board of Directors, and members of senior management to discuss how CDIC protects depositors and promotes financial stability by focusing on depositor trust and confidence, resolution readiness, and organizational strength in a dynamic operating environment.  

“As I reflect on the past year, I’m struck by the complexity of risks, rapid pace of innovation, and evolution of products and services in the financial sector,” said Ms. Anderson. “Throughout this period, CDIC continued to deliver on its mandate and remains prepared to protect depositors and uphold financial stability – whatever the future brings.”

CDIC’s priorities include reinforcing trust in deposit protection through public awareness and clear and transparent disclosures at member financial institutions; being “resolution ready” through early identification of risks to CDIC members and continued emphasis on robust resolution planning, testing and assessment of execution capabilities; and fostering organizational strength by cultivating a diverse and inclusive workforce.

Ms. Anderson also announced that CDIC will offer a wide variety of web and social media content during Financial Literacy Month in November to help depositors make informed decisions about how they save their money.