Quote:
Originally Posted by Mr.Coffee
People say that Canadian banks are impenetrable but that defies logic and common sense and is not correct. The government only backstops about I think 30%. If there’s a run, we are ####ed.
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Another option is that the CDIC retroactively raises the insured limit to a much higher level to reduce fear.
After the (now in hindsight small) July 2008 failure of IndyMac, Congress allowed FDIC to raise its limit to $250K, back dated to the beginning of 2008.