Q: Hi 5i,
Have a question about brokerage bank accounts and government guaranties. My understanding is each account could have $100,000 in CDIC if it qualifies and each account generally has $1,000,000 in coverage though another entity. If one has hypothetically $2,000,000 is one account the are at some risk as they are only covered to $1,000,000. Should the person buy treasury bills and stock (companies) in their account as if the bank gets in trouble you still own these assets, I cannot imagine the assets being liquidated and sold in a bankruptcy.
Have a question about brokerage bank accounts and government guaranties. My understanding is each account could have $100,000 in CDIC if it qualifies and each account generally has $1,000,000 in coverage though another entity. If one has hypothetically $2,000,000 is one account the are at some risk as they are only covered to $1,000,000. Should the person buy treasury bills and stock (companies) in their account as if the bank gets in trouble you still own these assets, I cannot imagine the assets being liquidated and sold in a bankruptcy.
