FINANCE
How secure are banks and government guarantees on deposits?
That depends if the banks are members of a trustworthy organisation.
Government deposits?
they are quite safe. unless it is a lowly capitalized bank it may not fail. also most weak banks get taken over or merged. all deposits are insured to an extent. banks are supervised by the reserve bank and have adequate own funds in the business
What is Government/Bank???...a group of People just like me or you....as far as they are honest everything they are going to associate its good.....Its people who make Bank/Government not Government/Bank who makes people.
In the States I think very secure. I have never feared losing my money which is left in a Federally insured bank. During the hight of the crisis I was concerned that I might be delayed in getting my funds, but luckily this fear proved to be wrong.
If your GIC or other guaranteed investment is making less than inflation (3% usually) then its pretty darn secure, unfortunately your investment is constantly losing money. Probably should look into finding something with 8-12% rate of return.
depends country to country, New Zealand and UK sound to date.
That would depend on the country and nature of the bank. Typically in most economies such guarantees are sacrosant and would play out in case of a crisis.
Not as secure as they used to be, but there are still safe banks to deposit your money with.
Depends on the country... US, Canada and Australia are all reasonable
very secure up to £85,000, but above that who would have guessed that Lehmans would go bankrupt
Banks and governments are as reliable as a house of cards in hurricane country. They are the reason the world is in this mess. Lets face it each government comes and rules like a king for a period. They make use of every contract and deal that will fill their pockets and they go and retire. None of them goes to jail worse case scenario they resign for the mismanagement they did and usually with a good bonus since they have a really good contract.
Like a lot of people have been saying over the years if they are like the Canadian banks they are very secure. Other countries really need to learn from their business models when it comes to banks.
These are low risk low reward investments... Very Safe but little return.
Secure in regualr bank accounts up to the CDIC maximum.
I feel government guarantees on deposits are lot more secure than banks. Many of the major banks have stocks that are very low in price and have not rebounded since the 2008 recession. I personally prefer using a credit union in using a bank because I think they care more about you than themselves. |
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