In article
<99f777cc-0635-4a7e-8f5c-9d817085e5dc@[EMAIL PROTECTED]
>,
"phil_herring@[EMAIL PROTECTED]
" <phil_herring@[EMAIL PROTECTED]
> wrote:
>On May 19, 8:11 pm, ppnerkDELETET...@[EMAIL PROTECTED]
(Phred) wrote:
>
>> But, moving on... To what extent are bank deposits "protected" in Oz?
>
>This has come up before.
>
>AFAIK, deposits with an Australian bank are not protected. The RBA is
>permitted to step in and take control of a bank if it deems it
>necessary, but it isn't obliged to, and if it does, it isn't obliged
>to treat depositors in any particular way.
>
>OTOH, if a bank collapses, depositors are first in line for whatever
>can be salvaged by liquidation.
>
>Summary here:
>
>http://www.brisbanetimes.com.au/news/banking/guarantee-no-savings-grace/2007/10
>/02/1191091073147.html?page=fullpage#contentSwap2
Thanks for your reply Phil. Unfortunately that link seems to have
died: "Sorry your page was not found ..." So in the absence of
contrary opinion I'll happily accept what you said above. :-)
Cheers, Phred.
--
ppnerkDELETE@[EMAIL PROTECTED]
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