The Financial Post reports in its Thursday, July 24, edition that over two years after three U.S. banks failed, the Canadian federal government proposed increasing insurance coverage for bank deposits. The Post's Naimul Karim writes that while Canada's financial sector remained stable, the U.S. failures highlighted the risk of bank runs and the crucial role of deposit insurance in maintaining stability, according to the Department of Finance's consultation paper released Tuesday. Canadian bank deposits are protected by the Canada Deposit Insurance Corp. (CDIC). Customers can recover up to $100,000 per deposit category at member institutions. While most large banks and many credit unions are CDIC insured, mutual funds, stocks, bonds and cryptocurrencies are not covered. Ottawa has proposed increasing the insured limit to $150,000. The paper said: "The deposit insurance limit has not been increased since 2005. Since then there has been a deterioration of the real value of deposit protection such that the adjusted limit today would be approximately $150,000." Canadians' changing saving patterns and demographics have led to more deposits exceeding the $100,000 limit, resulting in fewer fully protected depositors.