Which is the safest Canadian bank?

CIBC, TD, BMO, RBC or Bank of Nova Scotia?

They only have 3%-10% liquid reserves. If they fail. But don’t worry right because it’s backed by deposit insurance. You are again on the hook because Federal Deposit Insurance Corporation is a Crown Corp. Tax payor is on the hook.

Insurance companies have over 100% Reserves and Manulife in this example has 138% reserves.

Perhaps the safest bank is the bank you design using a Dividend paying, Whole life Participating Life insurance policy.

You are Guaranteed never to have a negative return on your investments. Yes the Dividends are not guaranteed but your Cash Value NEVER goes down.

Sources:
https://www.manulife.com/content/dam/corporate/en/documents/investors/MFC_SIP_2022_Q3_EN.pdf

https://www.manulife.com/content/dam/corporate/en/documents/investors/MFC_QRS_2019_Q4_EN.pdf

https://insurance-portal.ca/article/canadian-insurance-industry-weathers-crisis-well-compared-to-foreign-counterparts/

https://www.thecanadianencyclopedia.ca/en/article/manulife-financial-corporation

https://www.thecanadianencyclopedia.ca/en/article/recession-of-200809-in-canada

https://www.cbc.ca/news/business/banks-got-114b-from-governments-during-recession-1.1145997

https://www.quora.com/Which-is-the-safest-Canadian-bank

https://www.osfi-bsif.gc.ca/Eng/fi-if/rg-ro/gdn-ort/gl-ld/Pages/LICAT18_chpt1.aspx

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