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Home FAQ What happens if a member fails?
What happens if a member fails? Print

The BDIC is committed to providing depositors access to the funds as soon as possible after a member failure.  The procedure surrounding the member failure is dictated by the Deposit Insurance Act, 2006-29, sections 31 to 42.



Please Note: This website is designed to give general information about deposit insurance and should not be relied upon as definitive. The actual deposit insurance coverage provided by BDIC following the failure of a member institution is based on the deposit account records at the failed member institution and is governed by the Deposit Insurance Act.