Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Government says banks can help ease liquidity problems

Staff Reporter 3 minute read

The Rudd government will enlist the help of the big four banks to improve liquidity for institutions not covered by the deposit guarantee scheme.

Speaking at the Business Council of Australia dinner last night Kevin Rudd said the government was working with the industry to ensure a secure, strong and diverse financial system, according to The Australian Financial Review.

“The banks are the beneficiaries of banking licences and the government’s guarantee on deposits and wholesale funding,” he said.

“It is not unreasonable, therefore, to expect that the banks will play a continuing role in supporting the wider financial system and thus the Australian national interest.”

Advertisement
Advertisement

Mr Rudd said such larger and more liquid institutions could provide liquidity to various market-linked investment vehicles by buying their securities at market prices.

Published: 31-10-08

Related articles

Guarantee scheme capped but fund managers remain excluded 27-10-08

Today's other news




Government says banks can help ease liquidity problems
default
TheAdviser logo

The not-to-be-missed Accountants Daily Strategy Day will travel through Melbourne and Sydney in August to equip accounting professionals with the latest industry updates and tips for modern practice management as well as the latest cutting-edge technology, processes, strategies and trends shaping the future of accounting. Visit the website for more information: www.accountantsdaily.com.au/strategy-day

PROMOTED CONTENT


default

 

more from the adviser
David Hyman

Breaking News

Brokers promote competition in lending: Lendi

Brokers are driving competition in the mortgages sector and chang...

money au ta

Breaking News

SME fintech closes $25m raise to fund expansion

An SME lender has raised $25 million in equity to fund the ‘rap...

loan application

Breaking News

Hot Property: The biggest property headlines from the week 26 to 30 July

The weekly round-up of the biggest news stories from across Momen...