CDIC's stated goal is to have money to deposit holders within 3 business days.thediamondshopper wrote: ↑ Buffets position can be very temporary as per the deal, no?
Plus I don't have overwealming confidence in CAN realestate ATM, I will read further if there are any scenarios where it could take a lot of time to be paid out on CDIC. I he rare event of a US style situation I imagine it would be hard to pay out all the claims?
GICs themselves inherently already take "a lot of time to pay out" so the additional risk is really minuscule.
e.g. If you have a GIC it is a very low probability that your term ends within 3 days of a bank failure, so you probably have more than 3 days on average before you would sweat CDIC missing their goal
Roughly ~1% of GIC holders (if everyone was in 1-yr terms) would be coming to maturity on any given 3-day period. Less since many terms will likely be 1-5 years.
POLL: How frequent is your RRSP-matching?
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Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)