australia coordinating bank guarantees with nz, page-12

Not wanting to rain on the party but just what does the Government mean by "Guarantee Bank Deposits for 3 years" and why the time limit.

Will a depositor be able to draw on their money either in part or in full any time during the next 3 years.

or

Will a depositor know that their funds are still in their account and not lost but may be limited to the amount they can withdraw and at the end of 3 years, if they can only draw part of the funds, the rest may be locked up in any bank failure.

The devil is in the detail which needs to be spelled out to mean something.

Hope it's as it sounds but Governments are devious.

Personally, I will be taking my money out of any failing bank regardless.