Mr. Speaker, the outstanding principal under loan guarantees issued by the government on the borrowings of third parties stood at $14.5 billion at December 31, 2019. At September 30, 2020, the date of the most recent finalized quarterly data available, the outstanding principal under loan guarantees totalled $15.8 billion.
In addition, the Canada Mortgage and Housing Corporation, CMHC, and the Canada Deposit Insurance Corporation, CDIC, operate insurance programs related to third-party debt for the government. CDIC operates the deposit insurance fund, which provides basic protection coverage to depositors for up to $100,000 of eligible deposits with each member bank, trust or loan company. CMHC operates the mortgage insurance fund, which provides insurance for mortgage lending on Canadian housing by private institutions. At December 31, 2019, total insurance in force amounted to $1,280,849 million. At September 30, 2020, the date of the most recent quarterly data available, total insurance in force amounted to $1,405,991 million. In the event that the corporations have insufficient funds, the government will have to provide financing. The government expects that the corporations will cover the cost of both current claims and possible future claims.