It is important to consider the current procedures of the CDIC in the event of a failed member institution. These are provided by the CDIC on their website:
http://www.cdic.ca/en/about-cdic/resolution/Pages/tools.aspx
The CDIC has a number of tools to resolve or assist a failing member institution. Of all these tools, the only one in which a depositor who held up to $100,000 of principal and interest owing would not be paid in full on time is under the "Liquidation and Reimbursement of Insured Deposits" mechanism. Under this scenario, "the CDIC would aim to reimburse chequing and savings accounts, joint accounts and mortgage tax accounts within three business days".  Deposits held in trust would take slightly longer to be reimbursed. The current procedures for reimbursement appear much faster than those cited by the reader in the 1993 case of Royal Trust. Now, even in a worst case scenario, higher rates paid on Home Capital CDIC-insured deposits should exceed cost of delayed payout.