See the post with Eric King: What We Are Now Seeing Is Unprecedented In World History, for a reminder of the status of deposits and depositors.
FDIC & Bank of England Create Resolution Authority
for Unlimited Cyprus-Style “Bail-Ins” for TBTF Banks!
By The Doc
March 31, 2013
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On Wednesday, SD broke the news that Canada had buried a provision for depositor bail-ins for systemically important banks deep inside its official 2013 budget, and stated that the Cypriot bail-in was not just a one-off event, but is in fact the new collapse template for the entire Western banking system.