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Government pulls plug on bank deposit guarantee
The Federal Government has removed the bank large deposit and wholesale funding guarantee established to stabilise banks due to the Global Financial Crisis.
The Federal Government has removed the bank large deposit and wholesale funding guarantee established to stabilise banks due to the Global Financial Crisis.
Mutuals (combined credit unions and building societies) are considered the least secure segment for retail deposits in Australia, despite the Federal Government guaranteeing deposits up to $1 million held by an Australian Deposit-taking Institution (ADI).
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