I am worried that there will be a run on banks in Oz

[fourandsixpants]

Our Politicians are saying one thing about the economy, their Dept heads are saying another.....and the cool hand Luke RBA head is subtly saying another.

I remember back when in ?1980 that all the Australian banks were insolvent-but the media did not print or report on this at the time, it was reported after the event was well and truly rectified.

The CBA Netbank service was 'screwy' and their ATM's were not working early this morning......because?....excuses are *weird

What do others here think.

[icyfroth]

It would'nt be the first time:

"The Commonwealth Bank was founded under conditions like those prevailing today: the country had just suffered a massive banking collapse. In the 1890s, however, there was no FDIC insurance, no social security, no unemployment insurance to soften the blow. People who thought they were well off suddenly found they had nothing. They could not withdraw their funds, write checks on their accounts, or sell their products or their homes, since there was no money with which to buy them. Desperate people were leaping from bridges or throwing themselves in front of trains. Something had to be done."

From here: THE REMARKABLE MODEL OF THE COMMONWEALTH BANK OF AUSTRALIA

[cherry*135]

Paints:
"But do you think there will be a run on our banks ?..........in the near future?

If not, why not please?"

No, I don't. Reasons in my post (CLF).

[lloydslights · Accepted solution]

Would these banking problems include the savings of superannuation funds?

DEB

[fourandsixpants · Accepted solution]

to am3 ref:

Committed Liquidity Facility

Under the Basel III liquidity standards (to be implemented in Australia from 1 January 2015),.......

......................................................................................................................................................................................................................

okay.

What about between 23 August 2014 and 31st December 2014 ?

and as LL has asked.....what about Super funds 'savings'.....esp.that many/most are heavily invested in property.....and just a teensie-weesie point here, that Aust seems to be in a property bubble atm.....

[rabbitearbandicoot]

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@2106greencat wrote:

Well said Rabbit

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please allow me to expand on my previous thoughts ...