Is there a Canadian equivalent to America's FDIC Bank Insurance?

Question

Is there a Canadian equivalent to America's FDIC Bank Insurance?

Answer 1

I think so. I do not know much about FDIC but all Canadian banks must belong to CDIC.

The need in Canada is much less since there have been very few bank failures

Answer 2

Yes-its the CDIC-Canadian Deposit Insurance Corporation

http://www.cdic.ca/