I have seen some alarmist tripe written on the boards of HC but this post takes the cake!!
Clearly the author has no understanding of the role and powers of the RBA, and probably has not even heard of the LLR facility available to banks.
The poster (and his advisor at the RBA) are probably to young to know the circumstances and the role of the RBA that led to the take-over of the Bank of Adelaide by ANZ.
Similarly, the ultimatum the RBA gave one of the Big 4 when the dust settled after the property crisis in the late 80's.
how safe is your bank account, page-4
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