About this Report
This report calls for a substantial review of the current approach to deposit insurance in Canada including an increase in the level of insurance coverage. Canada operates with a 1960s designed “one-size-fits-all” approach, however, driven by technological change, such as social media and advances in digital banking, the operating environment for financial institutions has changed. Looking to the future, the report anticipates further shocks from financial and non-financial risks which means an updated approach is needed to bolster the system’s robustness against current and evolving risks. This report provides recommendations to meet those goals while retaining the public’s confidence in the system.