This is why you should take all your funds out of the Canadian banks.
Not only Canada but numerous Countries have written bank bail-in's into their budget plans.
Go to: Pages 144 to 145
Establishing a Risk Management Framework for Domestic Systemically Important Banks
Most importantly top of page 145
- The Government 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. 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.
In case you missed it even after I broke the paragraph up to make it easier to see and understand.
"the bank can be recapitalized and returned to viability through the very rapid conversion of certain bank liabilities into regulatory capital."
Certain bank liabilities? Means, individuals banks accounts. Yours, Mine, your mothers, EVERYONES!
Protect your family now my steemian brothers and sisters.
Want further proof?
@joshsigurdson has two post you should not miss watching.