From Next Best to World Class

'Canada Deposit Insurance Corporation, or CDIC as it is widely known, may be only fifty years old, but it has faced numerous challenges, been much studied, and been through many transformations. It has been an eventful fifty years. Today “the deposit protection system has become a well-established component of prudential bank regulation,” but it was not always so. CDIC’s mandate and even its existence have been the subject of much debate. It has regularly been the object of criticism, and its mandate and powers have been regularly rethought. It was created amidst controversy and federal provincial wrangling in 1967, much tested in the financial crises of the early 1980s, intensely studied in the mid-1980s, significantly reshaped in the late 1980s, and tested again by the financial failures of the early 1990s, following which, it was once again critically scrutinized and reshaped'--Introduction, p. 1.