Public Accounts committee  No. Not if they take retail deposits. If they take retail deposits, they are CDIC members.

Public Accounts committee  It's an obligation, absolutely.

Public Accounts committee  Not all banks take retail deposits. For example, some banks have branches in Canada that don't take retail deposits.

Public Accounts committee  Between the 84 and...

Public Accounts committee  Banks? Are they banks?

Public Accounts committee  The 84 institutions also include trust companies.

Public Accounts committee  Yes. There are trust and loan companies that take deposits.

Public Accounts committee  No.

Public Accounts committee  No.

Public Accounts committee  To become a CDIC member, the institution has to take deposits. As a result, financial institutions such as insurance companies are not CDIC members. Mr. Walker's organization is responsible for pension plans. Our members are really deposit-taking institutions.

Public Accounts committee  There are the credit unions, for example, and they have deposit insurance at the provincial level.

Public Accounts committee  In 1996 it was a small mortgage corporation, Security Home Mortgage Corporation, which had about $50 million in deposits. In terms of repercussions, there weren't many. It was at the tail end of a difficult period that some of the mortgage corporations were having at that time. D

Public Accounts committee  We do, absolutely. Yes, Mr. Horgan did talk about the first recommendation on SAC, and yes, Mr. Walker did talk about the third one, which talked about the financial information committee. I would say yes, we do have coordination, and my notes are absolutely consistent with what

Public Accounts committee  Certainly from CDIC's point of view, we were not the number one party to the recommendation, so it affects us indirectly, and that is primarily why I pointed to the others, since we are not the lead agency having to respond to the recommendations.

Public Accounts committee  Thank you. Mr. Chair and honourable committee members, good afternoon. Mr. Chair, honourable members, good afternoon. Thank you for the opportunity to appear before you. Since the Canada Deposit Insurance Corporation is not often called to this committee, I would like to begi