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ARTICLE · 16 MAY 2016

Updates To The Bail-In Regime: Depositor Accounts

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In the bulletin, we discussed potential concerns with respect to whether consumer deposits would be part of the eligible debt responsible for bailing-in a bank.

CanadaFinance and Banking
Pat Forgione
Pat Forgione
Darcy Ammerman
Darcy Ammerman
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Earlier this week, we published a bulletin describing the introduction of Bill C-15 entitled An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2016 and other measures to, among other things, implement the proposed bail-in regime.

In the bulletin, we discussed potential concerns with respect to whether consumer deposits would be part of the eligible debt responsible for bailing-in a bank (one of the most frequently asked questions regarding the bail-in regime). We noted that these concerns were raised when the previous Conservative Government discussed introducing a bail-in regime and that the Minister of Finance denied that depositors' accounts would be subject to the bail-in regime.

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