Thursday, October 31, 2013

CDIC 2013 Annual Report

CDIC has just released their 2013 Annual Report and here's where we stand.
  • Total CDIC eligible deposits: $646 Billion (3.9% increase)
  • Total CDIC assets available: $2.56 Billion
  • Total CDIC borrowing capability: $19 Billion
Risk Management Conclusion: Even if CDIC borrows the $19 Billion from the federal government they are still under funded by $624.44 Billion. So if Canada's banking system is the safest in the world, do these numbers represent a sound financial system?

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