Signup Passcode
itsnotdifferenthere
Search
Online users
32 online users
Last Images
Last changes
Last blog posts
Last forum posts
Last forum topics
Last articles
Random Pages
Recently visited pages
your support is appreciated

Forum: Australian Bubble Forum

Forums->Australian Bubble Forum->Government Withdraws Bank Funding Guarantee and State Guarantee

juicedpixels
juicedpixels2039 points 
Australia
Government Withdraws Bank Funding Guarantee and State Guarantee


Very interesting development. Personally I can see this substantially increasing bank interest rates.
Government Withdraws Bank Funding Guarantee and State Guarantee

Today the Rudd Government is announcing the withdrawal of its Guarantee Scheme for Large Deposits and Wholesale Funding (the Guarantee) on 31 March 2010, acting on the advice of the Council of Financial Regulators (the Council).


linkexternal link
 
on: Sun 07 of Feb, 2010 [04:04 UTC] reads: 1712

Posted messages

author message
erutangis152 points 
Re: Government Withdraws Bank Funding Guarantee and State Guarantee
on: Sun 07 of Feb, 2010 [05:50 UTC]
I wonder if this explains the CBA increase? They may have known about it and it may be a response to try and dissuade the government sighting increased funding costs. ( I have to cut back on the conspiricy theories!) mrgreen

author message
altakoi575 points 
Re: Government Withdraws Bank Funding Guarantee and State Guarantee
on: Sun 07 of Feb, 2010 [06:03 UTC]
I didn't think was on the cards for a while, and it certainly seems to have snuck up without much fanfare.

I wonder whether it explains the high multi-year term deposits on offer for a few months. The banks seem very keen to get people to lock in funds at what appears an attractive rate, but which clearly might be a discount to the reality in a few years time. Certainly without wholesale funding the war for despositer funds seems likely to hot up.

author message
HolderOffer210 points 
Re: Government Withdraws Bank Funding Guarantee and State Guarantee
on: Sun 07 of Feb, 2010 [08:27 UTC]
ahhaah, it seems all of the threads are becomming interlinked. This is kind of obvious in a way - bubblepedia itself being a home for likeminded folk and one key topic, but lately I think the topiecs are (at a high level) all pointing to the same conclusion. The fall has started, and wont easilly be stopped. It's now a very long way to fall.
eg.
http://bubblepedia.net.au/tiki-view_forum_thread.php?comments_parentId=3312&topics_offset=12&topics_sort_mode=lastPost_desc&forumId=7external link
http://bubblepedia.net.au/tiki-view_forum_thread.php?comments_parentId=3732&topics_offset=9&topics_sort_mode=lastPost_desc&forumId=7external link
http://bubblepedia.net.au/tiki-view_forum_thread.php?comments_parentId=3783&topics_sort_mode=lastPost_desc&forumId=7external link
http://bubblepedia.net.au/tiki-view_forum_thread.php?comments_parentId=3706&topics_offset=5&topics_sort_mode=lastPost_desc&forumId=7external link

As an aside; I have a couple of friends who are still attempting/struggling to 'get a foot on the property ladder'. I have given up promoting an alterative view as they see me being negatibe, pessimistic, doomsayer... Now, I say nothing. What I do hope though is that banks through increased rates and lower LVR's will provide enough of a hurdle to delay them for 3-6 months when I think the entire picture will be obvious for all to see.



Show posts:
 
Powered by TikiWiki
RSS Wiki RSS Forums rss Directories