Avoiding a Loss of Your Bank Account Balance

The article discusses recent banking collapses in the US and measures taken by bank regulators to stabilize the banking industry. It highlights the importance of deposit guarantee insurance provided by organizations like the Canada Deposit Guarantee Corporation (CDIC), Alberta Credit Union Deposit Guarantee Corporation (CUDGC), and ATB Financial to protect cash deposits and GICs in financial institutions. It advises diversifying cash and investment portfolios to reduce risk and ensure deposits are within the guaranteed limits. The article suggests keeping cash balances below $100,000 in one financial institution and investing surplus amounts in GICs at other institutions with competitive interest rates.