Joe Oliver: How the budget’s bank ‘bail-in’ changes could cost Canadian depositors
Source Article: Customers have to pay an ‘insurance’ premium to keep our banks safe. The arcane world of bank regulation is not everyone’s cup of tea. However, it can have important implications for taxpayers, bank creditors and customers, which is to say most Canadians. One example is a “bail-in” regime for banks in financial trouble. The story begins with the financial crisis of 2007–09. International banks “too big to fail” were bailed out by governments in order to avert
