Risks with Canadian banks

Hi there,
As much as banks are under pressure in recent months, I really don't think there is any need for retail investors and account holders to worry. All of our major financial institutions survived the Financial Crisis (which was worse than what we are seeing today) and all in better financial position than most banks globally? Why? That is just a function of our banking standards being much higher than those in the US and across the world.

LIkewise, your banking accounts are covered under CDIC up to $100K and the CIPF covers your accounts up to $1M.

All in all though, I wouldn't worry about CIBC becoming insolvent anytime soon unless something drastic happens and that would mean something major happened that would likely impact the entire banking market, not just CIBC. It would likely need another financial crisis of some sort. Not saying it can't happen, but I wouldn't go changing banks just because you are worried about the safety of your accounts - know what I mean?

Mat