The Australian Prudential Regulation Authority (APRA) administers the Financial Claims Scheme, which is an additional protection for deposits.
The Financial Claims Scheme ensures that depositors with a member-owned bank, publicly-listed bank or building society will be guaranteed repayment of their funds in the extremely unlikely event that any banking institution faces stress.
The Scheme includes a guarantee of $250,000 per person per institution.
To find out more about Government guarantees, visit APRA’s Financial Claim Scheme website.
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