I have a Term Deposit with BankWest and I'm worried that if HBOS fails, will that effect BankWest or would it simply mean HBOS would have to sell BankWest and they cant touch any of the BankWest deposits?
I was under the impression that each bank is regulated by APRA and they must guarantee deposits and are regularly audited by APRA to ensure that all deposits are encountered for, is that right?
Please help as I'm a little bit worried with my BankWest Term Deposit now.
