I quote from this article of November 12th:
On Sunday in Brisbane the G20 will announce that bank deposits are just part of commercial banks’ capital structure, and also that they are far from the most senior portion of that structure. With deposits then subjected to a decline in nominal value following a bank failure, it is self-evident that a bank deposit is no longer money in the way a banknote is. If a banknote cannot be subjected to a decline in nominal value, we need to ask whether banknotes can act as a superior store of value than bank deposits? If that is the case, will some investors prefer banknotes to bank deposits as a form of savings? Such a change in preference is known as a “bank run.”
Each country will introduce its own legislation to effect the ‘ bail-in’ agreed by the G20 this coming weekend.
End of quote.
You may recall the Cyprian Bank bailout of March 2013, which included all large deposit holders essentially losing the majority of their deposits. Well, as you might expect, it’s becoming standard practice. So, if your bank gets into trouble, do not expect any protection.
You may want to plan accordingly, especially since your funds garner little interest in most countries.