Canada: Government proposes to implement a bail-in regime for systemically important banks

[Lucille]

http://www.budget.gc.ca/2013/doc/pla...g.pdf#page=155

Establishing a Risk Management Framework for Domestic Systemically Important Banks
Economic Action Plan 2013 will implement a comprehensive risk management framework for Canada’s systemically important banks.

Canada’s large banks are a source of strength for the Canadian economy. Our large banks have become increasingly successful in international markets, creating jobs at home.

LOL

The Government proposes to implement a "bail-in" regime for systemically important banks. This regime will be designed to ensure that, in the unlikely event that a systemically important bank depletes its capital, the bank can be recapitalized and returned to viability through the very rapid conversion of certain bank liabilities into regulatory capital. This will reduce risks for taxpayers. The Government will consult stakeholders on how best to implement a bail-in regime in Canada. Implementation timelines will allow for a smooth transition for affected institutions, investors and other market participants.

The whole world has gone mad.

h/t Zer0head http://www.zerohedge.com/news/2013-0...enly-zero-cash

[Seraphim]

I have been spreading this far and wide here. My parents are in disbelief. I've been telling them for about 3 years this would be the shindig and that in the coming couple of years the retirement (private) funds will be targeted...all over the West.

It's now really starting.

[torchbearer]

[Seraphim]

Canada has some of the most embarassingly under capitalized banks in the world.

The reserve ratio requirement is...wait a moment....ZERO PERCENT. What a $#@!ing joke.

[Acala]

Train wreck happening soooooooooooooooo slowwwwwwwwwwwwly. Until it isn't?

[oyarde]

Look for things to speed up .

[Seraphim]

We aren't far from widely evident massive tremors. Geologists who do surveillance on tectonic plate action are able to detect coming earthquakes by measuring the frequency and strength of tectonic tremors/activity.

Things are a shakin' below the surface and it's multiple hotspots getting ready to go all at once (or one after the other in close sequence).

We are NOW into the global systemic bank failure portion of this. Then comes systemic currency devaluation and in some cases outright currency collapse.

Train wreck happening soooooooooooooooo slowwwwwwwwwwwwly. Until is isn't?

[ClydeCoulter]

But the decision makers cannot see past the nose on their face.

[Acala]

Hold on to your hats ladies and gents.

[Seraphim]

That is not true. Some of the politicians who appear to be making the decisions cannot see past their noses. The true decision makers are systematically entangling the masses together and weakening them so they can be taken and used as pawns.

But the decision makers cannot see past the nose on their face.

[Lucille]

I have been spreading this far and wide here. My parents are in disbelief. I've been telling them for about 3 years this would be the shindig and that in the coming couple of years the retirement (private) funds will be targeted...all over the West.

It's now really starting.

We are modern day Cassandras, on everything; war, the police state, the economy... It's very frustrating.

Cyprus & Confiscation of Assets is Global Plan

There is little hope of reversing the trend at this point and everyone should know that this confiscation of assets was NOT something out of the blue. This was seen as the alternative to “taxpayer” bailouts following the meltdown of 2008-2009. The bankers scared the hell out of government warning they would collapse if the big bankers failed for nobody would be there to sell their debt. At the Sovereign Debt Crisis Conference I warned of FORCED LOANS were next whereby they confiscated your assets and handed you a bond. By the end of that session, the confiscation was announced. This time, they just took the assets with no bond swap.

We will publish a report on this, but effectively this was discussed at the G20 meeting and this has been put in written documents around the world. It is the next step in the Sovereign Debt Crisis that EVERY country has followed. This is the VERY SAME measure that was done in M.F. Global. The court refused to hold the banks responsible and thus the losses from the firm’s illegal trading were taken from client accounts.

[oyarde]

There is not enough money to go around to prop up these bull$#@! socialist govts, and most of that money is not real anyway.If you do not have it at home and it is not paper , you have nothing . Or at the very least , something that could become nothing ....

[Seraphim]

Hyperinflation or massive bond/debt write downs. There is no other way.

There is not enough money to go around to prop up these bull$#@! socialist govts, and most of that money is not real anyway.If you do not have it at home and it is not paper , you have nothing . Or at the very least , something that could become nothing ....

[awake]

If banks were sound they would not require such criminal "acts" on their behalf. They should scrap the term "bank" and call them Madoffs.

I firmly believe the Devils throne is made of two stacks of paper: "legislation" and bank receipts called "money".

[Lucille]

Found this FOX poll:

Could a Cyprus-style raid on bank accounts ever happen here?

No, that's ridiculous to even suggest 7.3%

Not sure -- but it's a cautionary tale on the importance of cleaning up our finances 62.76%

I've already got my money stuffed under the mattress 29.94%

I'm not even sure what "cleaning up our finances" is even supposed to mean. Who writes those idiotic polls for FOX anyhow?

From where I sit, the "TBTF" banksters and their partners in crime in governments all over the planet are already cleaning up!

Read more: http://www.foxnews.com/politics/2013...#ixzz2Oy6aSV41