If a Canadian bank fails, how much do you get back? — via financialpost
In Canada, bank deposits are guaranteed by the Canada Deposit Insurance Corporation up to a certain amount.“Money in the bank” is a phrase that conveys security. But what happens when the bank fails? That’s a question that was brought home last week when U.S. authorities after a bank run left the US$200 billion lender without enough funds to cover its obligations. So what would happen to your money if a Canadian bank suffered the same fate? The Financial Post’s Naimul Karim looked into it.
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