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If Cyprus Is the Bellwether, then Canada Is the Red Flag

by Jeff Thomas, Casey Research:

An intriguing article titled “Canada Includes Depositor Haircut Bail-In Provision for Systemically Important Banks in 2013 Budget” was recently published in SD Bullion.

The somewhat lengthy title offers all the information necessary, but for those who – quite understandably – may not be able to accept that they have just watched Canada tumble down the Cypriot rabbit hole, here is a bit more detail from the approved budget itself:

“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.

Read More @ CaseyResearch.com

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1 comment to If Cyprus Is the Bellwether, then Canada Is the Red Flag

  • Frank Zak

    Canada appears to have decent bank ratios.
    But, in the City of London their deposits
    are rehypothicated to the max.

    So, safe looking Canada is not safe at all
    and they could be facing a real estate bubble.

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