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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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Celebrating the New Year Around the World


As the clock strikes midnight on December 31st, cities across the globe will light up with vibrant celebrations, each infused with unique local traditions. From the iconic fireworks over Sydney Harbour to the joyous bell-ringing ceremonies in Tokyo, the world is ready to welcome 2025 with open arms.

Sydney, Australia

In Sydney, over a million people are expected to gather along the harbour to witness the spectacular fireworks display. This year, British pop star Robbie Williams will lead a singalong, and Indigenous ceremonies will honor Australia's first people.

Tokyo, Japan

In Japan, the New Year is welcomed with the ringing of temple bells, a tradition known as "joya no kane." This ceremony, believed to have originated in China, involves ringing the bell 108 times to symbolize the 108 earthly desires and anxieties mentioned in Buddhism.

 Auckland, New Zealand

Auckland was the first major city to welcome 2025, with thousands of revelers gathering at Sky Tower for a dazzling fireworks display and a light show recognizing the city's Indigenous tribes.

Jakarta, Indonesia

Jakarta will feature a spectacular fireworks display and a drone show featuring 800 drones. The countdown to midnight will take place at the iconic Hotel Indonesia Roundabout.

Rio de Janeiro, Brazil

In Brazil, people will light candles and throw white flowers into the ocean as an offering to Yemoja, the Queen of the Ocean. This tradition is believed to bring good luck and prosperity for the coming year.

Edinburgh, Scotland

In Scotland, the tradition of "first footing" is observed, where the first person to cross the threshold of a home after midnight brings gifts of coal, salt, shortbread, and whiskey to ensure good luck for the household.

These diverse celebrations reflect the rich cultural heritage and traditions of each region, making New Year's Eve a truly global event. As we bid farewell to 2024, let's embrace the new year with hope, joy, and a sense of unity.



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