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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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Tropical Storm Debby Brings Deluge and Flooding Threat to Southeastern United States

 

Tropical Storm Debby, which made landfall in Florida as a Category 1 hurricane, is now moving northeast over Georgia, posing a major threat of flooding and storm surges for the southeastern United States. As of now, at least five deaths have been confirmed, including a 13-year-old boy from Gainesville, Florida, a 19-year-old man from southern Georgia, and a 64-year-old truck driver from Mississippi.

The storm is expected to produce potentially historic rainfall totals of 10 to 20 inches, with maximum amounts of up to 30 inches in some areas. The National Hurricane Center has issued warnings of “catastrophic flooding” across eastern Georgia, the coastal plain of South Carolina, and southeast North Carolina.

More than 150,000 customers in Florida, Georgia, and South Carolina are currently without power due to Debby’s impact. Additionally, authorities in Georgia’s Chatham County are closely monitoring low-lying areas likely to flood.

Stay safe and informed as this slow-moving storm continues to affect the region! 


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