In the wake of the Cypriot depositor bail-in, DIESELBOOM let the cat out of the bag that the Cyprus depositor bank bail-in was the template for future bank crises across the Eurozone, a fact we quickly substantiated by uncovering bail-in legislation in the US, UK, and Canada.
The banksters’ banksters (aka the BIS) have just officially confirmed what SD readers have known a full 3 months- and have released the official depositor bail-in blueprint!
As Reuters reports, the BIS blueprint officially confirms the banksters plan to pursue the depositor bail-in model for future bank crises:
Central bank forum the Bank for International Settlements laid out a blueprint on Sunday for how to recapitalize a major lender in the event of a failure, seeking to avoid the sort of chaotic ad hoc rescues seen since 2008′s financial crash.
The BIS blueprint (for now at least) wisely restricts depositor haircuts to depositor funds in excess of deposit insurance levels, and would allow the failing bank institution to be re-capitalized by its creditors (ie depositors) over a weekend and reopen immediately on a Monday: