Quote:
Originally Posted by flames_fan_down_under
Question for anyone better educated on CDIC...does it matter what you're holding in your TFSA for it to be CDIC insured? Like ETFs vs Mutual funds vs plain old stocks.
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Only bank obligations are covered by CDIC - so stuff like savings and GICs. Mutual funds, ETFs and stocks all have a different type of protection from CIPF up to one million.
However, CIPF isn't an arm of the government and isn't government backed. It also doesn't have nearly enough money to cover losses if one of the big bank brokerages went down somehow. That said, I think its a certainty that the feds would step in before that became necessary for the big bank brokerages.