by The Task Force on the Future of the Canadian Financial Services Sector in Ottawa .
Written in English
|Statement||by A. Warren Moysey.|
|Contributions||Task Force on the Future of the Canadian Financial Services Sector.|
|LC Classifications||HG1662.C3 M69 1998|
|The Physical Object|
|Pagination||1 v. (various pagings) ;|
|LC Control Number||00363069|
DEPOSIT INSURANCE AND OTHER COMPENSATION ARRANGEMENTS 5 1. Introduction The report deals with compensation arrangements. This term includes Canada Deposit Insurance Corporation (CDIC), The Canadian Investor Protection Fund (CIPF), the Canadian Life & Health. This document provides guidance on sound incentive compensation practices to banking organizations supervised by the Federal Reserve, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision (collectively, the "Agencies"). 2 This guidance is intended to assist banking organizations in designing and . It is easy to underestimate the value of deposit insurance when times are good. When times are bad, governments often re-evaluate the need for such arrangements. Typically, deposit insurance systems are adopted in the aftermath of severe banking crises or when industry conditions are deteriorating and unstable. A recent IMF survey of deposit File Size: 49KB. compensation and benefits, and attach a copy of all pertinent documents, including an employment contract or compensation arrangement. Provide the aggregate compensation of all officers. (f) Describe any potential management interlocking relationships (12 U.S.C. a(h)(2), , or applicable state law) that could occur with the.
Deposit Accounting — the method of accounting for premium when the policy or reinsurance agreement does not qualify as insurance. The premium is not recognized as income but as a deposit or contribution to the insurer's surplus. Losses paid are not an expense but rather return of capital. * An asterisk marks the jurisdictions whose deposit insurance institutions are IADI Members. (Updated 1 April ) 1 The DIS in Andorra was established in and is operated by the Andorran National Institute of Finance (public financial institution founded in providing functions of financial regulation and control of the financial sector in Andorra). The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the Congress to maintain stability and public confidence in the nation’s financial system. Learn about the FDIC’s mission, leadership, history, career opportunities, and more. In the UK today the government provides deposit insurance (via the Financial Services Compensation Scheme, FSCS) to most bank accounts up to a limit of £85, In theory the FSCS is funded by levies on banks whose customers are covered by the guarantee, but in practice the major contributors to the cost of the scheme have been taxpayers.
FDIC insurance covers all types of deposits received at an insured bank, including deposits in checking, NOW, and savings accounts, money market deposit accounts, and time deposits such as certificates of deposit (CDs). FDIC deposit insurance covers the balance of each depositor’s account, dollar-for-dollar, up to the insurance. On the other hand explicit deposit insurance protection systems have laws that provide for bank deposit guarantees and establish basic aspects of the deposit insurance system, such as coverage. The author explains the general rules and benefits of rabbi trusts, and reviews the role endorsement split-dollar life insurance arrangements may have in exiting these trusts. Because rabbi trusts, named after a nonqualified plan implemented by a synagogue congregation for its rabbi, fall outside the ambit of IRC section , the interest. Rajesh Kumar, in Strategies of Banks and Other Financial Institutions, Deposit insurance. Deposit insurance is a significant aspect of the financial safety net system basically intended to promote financial stability. Deposit insurance is a guarantee that a depositor’s debt with a bank will be honored in the event of bankruptcy.