WTF --- Confiscation of Savings in Canada? Cyprus-Style “Bail-Ins” Proposed by Ottawa Government pg 144 -145 of this report budget.gc.ca/2013/doc/plan/budget2013-eng.pdf states: The Government of Canada proposes to implement a ―bail- in regime for systemically important banks. This regime will be designed to ensure that, in the unlikely event that a systemically important bank depletes its capital, the bank can be recapitalized and returned to viability through the very rapid conversion of certain bank liabilities into regulatory capital. bank liabilities are: What a bank owes, including most notably customer deposits. Bank liabilities are typically listed on the right-hand side of a banks balance sheet. . This will reduce risks for taxpayers. The Government will consult stakeholders on how best to implement a bail-in regime in Canada . Implementation timelines will allow for a smooth transition for affected institutions, investors and other market participants. heres the actual report budget.gc.ca/2013/doc/plan/budget2013-eng.pdf
Posted on: Tue, 12 Nov 2013 07:55:29 +0000
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