Quote from: DKG post_id=496227 time=1679582122 user_id=3390
Herman, there is some truth in what DSM is saying. Canadians have been lulled into a false sense of security by Ottawa. Our banks are stable, by global standards. But, the Canadian Deposit Insurance Company(CDIC) only insures $100,000 per account. That could be $100,000 in savings, $100,000 in TFSA, $100,000 in RRSP's. $100,000 in GIC's, $100,000 in RESP's for a total of $500,000 insured. The safest course of action in Canada is not to put all your eggs in one account basket or one bank.
By contrast, SVB accounts were insured up to $250,000 per account. But, the SVB was reliant on one risky industry.
The maximum insured amount for each account is one hundred thousand dollars?
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