Put it this way if there is a run on the Australian financials the government will not tell u. The government will be telling u the exact opposite. to try and stop the panic. As it will have to pick up the tab if things really crumble.
I would not have more than 20k deposited in anyone institution spread it around a bit.
the government has not passed it will back up to 20k in deposits yet if things tumble. but it is on the cards and the cards could be sitting on the table for a while.
