Responding to the Financial Crisis, the Australian Government Introduced a Number

Multiple Choice

Responding to the financial crisis, the Australian government introduced a number of measures to ease liquidity issues and included the following:

A) a permanent financial claims scheme (FCS) in October 2008, which explicitly guaranteed bank deposits with a $1 million cap
B) a semi-permanent financial claims scheme (FCS) , which implicitly guaranteed bank deposits
C) a permanent guarantee scheme for large deposits and wholesale funding which, for a fee, guaranteed bank deposits greater than $1 million
D) a permanent financial claims scheme (FCS) in October 2008, which explicitly guaranteed bank deposits with a $1 million cap; the guarantee was reduced to $250 000 per depositor from 2012