These sums can be in the millions of dollars.

The solicitation for comments was here https://www.canada.ca/en/depar.....eview.html and within that link, the actual paper is here https://www.canada.ca/en/depar.....paper.html The discussion on Temporary High Balances is in section 4.3. In my comments on this paper, I recommended 1 year for duration, and for consideration of more than $1M given the price of houses in GVR and GTA, never mind estates of same.

To me, this is a very important move, regardless of moving everyday insurance limits to $250k or not.

Did y'all not see this original request for comments back in 2025, and not comment on same?

canadian.100 said

What does "providing temporary high-balance coverage..... mean? How long is "temporary"?  

Canadien (sorry reading about the trial of Louis Riel at the moment):

I can see your alarm, but when they increase CDIC limits to $250K, there will likely not be an additional test of high balance coverage. Budget documents like to explain the rationale for changes. So, they envision that the $250 k is good public policy to catch things like temporary high balances. They are not honest enough to admit that CDIC limits have not been inflation adjusted for over 20 years.

Ultimately, you will need to wait and see what the law and regulations say.

AltaRed said
In Budget 2026, Annex 3, Legislative Measures,
the government proposes to amend the Canada Deposit Insurance Corporation Act to modernise the deposit insurance framework by increasing the deposit insurance limit to $250,000, providing temporary high-balance coverage for certain life events like selling a home, removing the deposit insurance limit for eligible deposits in registered and tax-free accounts; legislating a periodic review of the deposit insurance framework every 10 years, ensuring that the Canada Deposit Insurance Corporation (CDIC) can access data to support evidence-based policy development, and updating the framework so provincial trust and loan companies seeking to become a CDIC member may only do so by continuing as a federal trust and loan company. 

What does "providing temporary high-balance coverage..... mean? How long is "temporary"?

Finally came across the Globe and Mail's reporting of this item. They did not use the acronym, CDIC.

AltaRed said

In Budget 2026, Annex 3, Legislative Measures,
the government proposes to amend the Canada Deposit Insurance Corporation Act to modernise the deposit insurance framework by increasing the deposit insurance limit to $250,000 . . .

It can't happen too soon‼️

Shoulda been done, Years Ago❗

Dean

NokomisStation said
AltaRed, you should have been in the budget lockup working for the G&M, as they seemed to have missed this item!!!!  

This will help us simplify our banking footprint. Good for us and good for those we leave behind ...

This is in line with what CDIC was suggesting as a base case many months? a year? ago when they invited the public to comment on their proposals. This would be near and dear to the hearts of many members of this forum.

Norman1 said
At Manulife Bank, one can link by uploading their Funds Transfer Agreement along with the void cheque or PAD form for the external account.  

And Manulife Bank is available when using Flinks at Oaken and Haventree. I haven't completed the process because I closed my Manulife Bank accounts a while back.

Oaken can also link manually with a voided actual cheque or stamped PAD information form.

victor6433 said
Using Flink sucks, it does not allow me to link some accounts but Eq let's me link it, Not Tang, Manulife or oaken.
It's totally garbage.  

No Bank or Credit Union can link to Oaken accounts because Oaken is more of a digital front-end for accounts at Home Bank/Trust and Oaken accounts do not have transit numbers. Any EFT to/from Oaken has to be initiated from Oaken.

Oaken uses Flinks to link to successfully link to many FI's. I've used Flinks via Oaken to connect to BMO, EQ Bank, Hubert, Tangerine and TD but Haventree doesn't show as available to connect to.

I have also used Flinks via EQ Bank to link to BMO, Hubert, Tangerine and TD.

And I have also used Flinks via Haventree to link to BMO, Hubert and Tangerine.

Intuit used to provide a service called Mint. One gives Mint online banking credentials. Mint stores the credentials. Periodically, Mint would use those to sign into one's online banking sites for Mint to scrape transactions to produce aggregated statements for accounts across all one's banks.