Investors switch to term deposits
Investors are switching from cash management trusts to term deposits as concern grows in relation to the health of many investment banks and investment houses. Australia's big four banks are among the best run and well capitalised banks in the world according to the treasurer Wayne Swan. Of the 12 big international banks with credit ratings of AA or higher, four are Australia's big banks said Swan. Macquarie Bank says it has a conservative balance sheet as it sought to ease concerns over its $16.8 billion cash management trust.
Source: The Age