11/18/2014 - Here is the Official G20 Document Approved By the G20 Countries for Banks To Confiscate Your Bank Deposits
See page 5 of the document below for the signed & agreed piece which allows banks to simply take your bank deposits, under certain conditions, in the event of a bank crisis: “The Key Attributes describe the powers and tools that authorities should have to achieve this objective. These include the bail-in power, i.e., the power to write down and convert into equity all or parts of the firm’s unsecured and uninsured liabilities of the firm under resolution or any successor in a manner that respects the creditor hierarchy and to the extent necessary to absorb the losses. Hence, the resolution strategies that are being developed for G-SIBs provide for a recapitalisation by a way of a bail-in (with or without use of a bridge institution) to support the orderly resolution or wind-down of a G-SIB in a manner that maintains at a minimum continuity of critical functions. As set out in the July 2013 FSB Guidance on the Development of Effective Resolution Strategies, one crucial consideration in the development of effective resolution strategies is the availability in resolution of lossabsorbing capacity in sufficient amounts and at the right location(s) within a group.”
G-SIB = global systemically important bank
LINK HERE to the source article
