Increase in Guaranteed Deposits under Québec Deposit Insurance Fund

Deposit Insurance

Québec City – Québec investors will continue to enjoy deposit protection equivalent to that available in the other provinces.

Further to the announcement made by the Finance Minister in his 2005 Budget, the maximum guaranteed deposit under the Québec deposit insurance fund has been increased from $60,000 to $100,000. As announced in the Budget, this measure is retroactive to February 23, 2005.

Through the deposit insurance fund, the Autorité des marchés financiers (AMF) guarantees, subject to certain conditions, the reimbursement of deposits made with registered institutions, up to $100,000 (including accrued interest on the deposits), per person, per registered institution, in particular in the event of the bankruptcy of such an institution.

Further information on guaranteed deposits and registered institutions is available on the AMF website or by calling the AMF toll-free at 1 866 526-0311.

The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.

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