We're going to be skipping ahead in the budget analysis for this post. Chapter 3.2 "Establishing a Risk Management Framework for Domestic Systemically Important Banks"
Depositors, or taxpayers, but never the criminals at the top. Deposit at your own risk.
Systemically important banks will face a higher capital requirement, as determined by the Superintendent of Financial Institutions. 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. Systemically important banks will continue to be subject to existing risk management requirements, including enhanced supervision and recovery and resolution plans.
Thanks to @sandytauschek for spotting it.
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