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What methods of payment may the DIC use in meeting its obligations to the depositors of a failed institution?

April 26, 2017depositors dic failed institution meeting methods obligations payment

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What methods of payment may the DIC use in meeting its obligations to the depositors of a failed institution?

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The DIC may pay depositors either by transfer to a financial institution with instructions to effect payment to depositors on its behalf, or directly by means of cheques up to the insured limit which will be collected at the DICs offices.