courtesy of zerohedge posters'
NZ has Open Bank Resolution policy. Depositors are uninsured and will get haircut first. only if unsecured creditor, junior bondholder, depositors are not enough, then senior bondholder will have hair cut
Canada budget for 2013, on page 145 of the document (not 145 indicated in adobe).
http://www.budget.gc.ca/2013/doc/pla...et2013-eng.pdf
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.
that certain bank liabilities is the depositors' money.