Canadian deposits safe under bail-in, but no guarantee: Carney
"Mark Carney says policy-makers are working diligently to devise an international “bail-in” regime to prevent big bank failures, but he offered no guarantee global depositors would be protected under all circumstances."
“Canadian institutions have substantial unsecured debt obligations in the wholesale market and as well as other classes of capital, and they have substantial capital as well, so once you stack all of that up.....
The banks in Cyprus has substantial capital. Mark Carney is well aware of that fact.
“The bail-in approach broadly speaking, not bail-in as it was performed a couple of weeks ago in Cyprus, but bail-in as a component of addressing systemic risk … is an absolutely necessary element, it doesn’t solve everything but it’s absolutely necessary,” he said.The bail in approach doesn't solve anything. The banks should fail