Which of the Following Statements Is True

Multiple Choice

Which of the following statements is true?

A) In Australia, depositors received preference over other liability holders in the event of a liquidation of an FI.
B) In Australia, depositors receive preference over other liability holders in the event of a liquidation of an FI being replaced by a financial claims scheme to protect deposit accounts.
C) In Australia, only customers of the major banks are covered by deposit insurance.
D) Australia has had a well-developed deposit insurance system for decades that has protected depositors without a bank failure for over a century.