The Australian government and major-party politicians have one response to concerns that bank deposits could be “bailed in”: don’t worry, you’re protected by the $250,000 Financial Claims Scheme (FCS) deposit guarantee.
A government Senator has contradicted Treasury and the ex-banker who controls the Senate Economics Committee and confirmed that the APRA crisis resolution powers legislation sneaked through Parliament in February is a “bail-in” law.
A government Senator has contradicted Treasury and the ex-banker who controls the Senate Economics Committee and confirmed that the APRA crisis resolution powers legislation sneaked through Parliament in February is a “bail-in” law.
