if hbos fails will that effect bankwest guys, page-4

  1. 1,341 Posts.
    I think if a financial institution goes belly up the government guarantees the amount of 20,000 dollars.

    eg if u have a deposit of 100k the government will give u back 20k. Over a period of time i suppose if things get that bad.


    But if the bank goes bust and u owe dough u still have to pay the full amount back.


    Also financial institutions can recall loans at anytime that they feel necessary.
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.