Worried depositors reassured by bank staff

Bank customers are worried about the security of their deposits and are asking for reassurances from their branches. Banks have given their branch staff scripts of what to tell worried customers and how to assist customers worried about their deposits. The government says the Australian financial system is among the best regulated and capitalised in the world. The Prime Minister Kevin Rudd said there was a possibility the government may revisit the idea of guaranteeing bank deposits. Big banks are said to oppose an explicit government guarantee on deposits saying that the current system whereby depositors get first call on a bank's assets in the event of bank failure was adequate. “We will be taking into account all the views we have picked up from the finance sector recently and that should be introduced into the parliament very soon,” said Mr Rudd yesterday.

Source: Courier Mail

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