Are deposits safe in banks?
Can someone translate the last paragraph to some thing simplier.
What is Excluded?
The following are not eligible for a bail-in conversion:
Deposits (including chequing accounts, savings accounts and term deposits such as GICs);
Secured liabilities (e.g., covered bonds);
Eligible financial contracts (e.g., derivatives); and
Most structured notes.4
While they are not subject to conversion under the bail-in regime, NVCC instruments are subject to conversion pursuant to their contractual terms and would fully convert into common shares prior to the bail-in conversion of senior debt into common shares