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Ottawa Wants to Raise Your Deposit Insurance to $250,000: What Changes (and What Doesn’t)

  For more than 20 years, the federal guarantee on your savings has been stuck at $100,000. In Thursday's budget, Ottawa proposed to raise it to $250,000. Here is what would change, what wouldn't, and why you shouldn't move a dollar yet. Today (unchanged since 2005) $100,000 per deposit category Proposed in Budget 2026 $250,000 per deposit category What Budget 2026 actually proposes The Canada Deposit Insurance Corporation (CDIC) protects your deposits if a member bank fails. The budget proposes amendments to the CDIC Act that would do four things: Raise the limit from $100,000 to $250,000 per deposit category, the first increase in more than two decades. Remove the limit entirely for eligible deposits held in registered and tax-free accounts. Today, the limit is $100,000 per account type at each institution. Add temporary high-balance coverage for life events such as selling a home. Require a review of the deposit insurance framework every 10 years. It isn't law yet. ...

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Your daily horoscope: February 17, 2024

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

Your passion for a person or a project will reach such heights this year that there is a danger it could become all-consuming. Do whatever it takes to steer clear of extremes, and remind yourself constantly that the middle path, while boring, is generally the best.

ARIES (March 21 - April 20):

You are determined to make your mark and with so much helpful activity in the friendship area of your chart partners and loved ones and work colleagues will happily assist you any way they can this weekend. Be active. Be adventurous. Be amazing.

TAURUS (April 21 - May 21):

With your ruling planet Venus joining forces with power planet Pluto this weekend there is no doubt at all that you will be in a position of prominence very soon. You will be taking giant strides on the work front over the next few days.

GEMINI (May 22 - June 21):

Demand the best of yourself and demand the best of other people too. This is potentially one of the most exciting periods of the year for you and you can and you must make the most of it. Don’t hold back – show the world what genius looks like.

CANCER (June 22 - July 23):

You seem to be under a lot of pressure at the moment but it is nothing you cannot handle, so stop worrying that the world is about to come crashing down around your ears and find ways to improve things both for yourself and for loved ones too.

LEO (July 24 - Aug. 23):

The pace of life is picking up dramatically and a lot of your friends are going to get pretty exhausted this weekend. You, however, will love every moment of it and with each new challenge you will find new sources of energy and new ways to prove yourself.

VIRGO (Aug. 24 - Sept. 23):

There is no limit to how much you can accomplish now, and no limit to how much money you can make from your successes. If you have a creative idea of some sort over the next 48 hours don’t hesitate to turn it to your financial advantage.

LIBRA (Sept. 24 - Oct. 23):

The sky is the limit for you now Libra. In fact, forget about the sky and aim for the stars! Venus, your ruler, alongside Pluto in the most forceful area of your chart endows you with huge self-belief. All things are possible if you want them enough.

SCORPIO (Oct. 24 - Nov. 22):

The only danger today is that you could get overly emotional about something and lose your cool with a colleague, or even a friend. If that does happen you must regain your composure quickly and apologize for your unnecessarily hostile words.

SAGITTARIUS (Nov. 23 - Dec. 21):

The message of the stars this weekend is that it would be a crime to stay at home by yourself when there are so many opportunities to shine out there in the world at large. You can have no end of fun while on the move, so get going!

CAPRICORN (Dec. 22 - Jan. 20):

Keep your mind clear of thoughts that are of no importance this weekend. A lot of big things are about to occur all at once, so stay alert mentally and don’t allow yourself to be sidetracked by issues that, while interesting, are also trivial in the extreme.

AQUARIUS (Jan. 21 - Feb. 19):

There will be no holding you back over the next 48 hours. Cosmic activity in your sign is now at a peak and the more enthusiastic you are about life the more life will reward you. Identify what you most want to accomplish and focus exclusively on that.

PISCES (Feb. 20 - Mar. 20):

You are under no illusions about what needs to be done to change your life for the better and what happens over the next few days will bring the opportunity you have been praying for to transform your existence. A new you is about to be born!

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