Episode description
This week we go over the recent struggles with American banks and look into what is keeping major Canadian banks from suffering the same fate. Everything from CDIC, Assuris, OFSI and the Basel accords are talked about as we discover what would happen if a Canadian bank collapsed.
Continuity Note: A day after recording this episode TD Bank broke its agreement to purchase First Horizon Bank in the US.
If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com
Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada
Useful Resources:
Globe & Mail report on unrealized losses in Canadian banks: https://www.theglobeandmail.com/business/article-canadian-banks-carrying-potential-losses-on-bonds/
OFSI’s comments about the Silicon Valley failure: https://www.osfi-bsif.gc.ca/Eng/osfi-bsif/med/Pages/nr20230315.aspx?utm_campaign=osfi-bsif-carousel&utm_medium=carousel&utm_source=osfi-bsif&utm_content=carousel-header-en
The Basel III Framework: https://www.bis.org/basel_framework/index.htm?m=3_14_697