Canadian Money Forum banner

21 - 28 of 28 Posts

·
Registered
Joined
·
10,218 Posts
imho, if you are below CDIC 100K limit, you are pretty safe to hold cash in EQ bank... and in case if it goes belly up, and if CDIC won't have enough money to cover Home Trust, EQ , maybe Peoples Trust, governemnt can print more money, thus value of (already depressed CAD$) will go down, but it will affect EVERYONE in Canada, not only those "small banks" investors.... and at least who kepps money there until this D-Day will get much better % than whatothers getting in 6-gig banks
 

·
Registered
Joined
·
4,550 Posts
imho, if you are below CDIC 100K limit, you are pretty safe to hold cash in EQ bank... and in case if it goes belly up, and if CDIC won't have enough money to cover Home Trust, EQ , maybe Peoples Trust, governemnt can print more money, thus value of (already depressed CAD$) will go down, but it will affect EVERYONE in Canada, not only those "small banks" investors.... and at least who kepps money there until this D-Day will get much better % than whatothers getting in 6-gig banks
... but who's in line first for the distribution? Can't be small bank investors ...
 

·
Registered
Joined
·
4,550 Posts
^ Yes, it's going to hit everyone. But doesn't that include pension funds, small business corps, etc.? Or maybe pension funds don't invest in these piddly deposits???
 

·
Registered
Joined
·
10,218 Posts
^ Yes, it's going to hit everyone. But doesn't that include pension funds, small business corps, etc.? Or maybe pension funds don't invest in these piddly deposits???
Probably some pension fund were invested in HCG and EQB... I don't know, I've read that currently only 1 institution still invested into HCG, but it's not the point, everyone gonna get hit, because government will need to print/spend billions to cover CDIC insurance , thus it will hit CAD$ and this will affect everyone
 

·
Registered
Joined
·
860 Posts
EQ Bank just announced that they now support Joint Accounts. I completed the conversion of my account to joint with my wife this morning, and the process was very simple. My account had zero balance while I was waiting for this to happen. Now I can move some cash there again.
 
21 - 28 of 28 Posts
Top