this post was submitted on 20 Oct 2023
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Personal Finance Canada

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Friday: ups and downs (lemmy.ca)
submitted 1 year ago by [email protected] to c/[email protected]
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Finance is a combination of luck, good/bad decisions, and a little bit of chance!

Let’s talk about your ups and downs! What successes did you have this week? Who messed up?

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[–] [email protected] 2 points 1 year ago (1 children)

Good points. I think savings accounts ETFs in particular like PSA might not end up being protected by CDIC.

[–] [email protected] 2 points 1 year ago (1 children)

You're right, but according to this page, PSA money is held with National Bank, Scotiabank, CIBC and BMO, with a few treasury bills. Those 4 banks are considered domestic systemically important bank, and a failure of any of them would have a serious impact on Canada’s economy, and probably warrant governmental intervention, so I personally wouldn't worry that much.

[–] [email protected] 2 points 1 year ago (1 children)

You're probably right. :)

[–] [email protected] 2 points 1 year ago

At least, I hope so, otherwise, I'll lose all the money I have in CASH.TO ;)