Senate debates

Wednesday, 26 November 2008

Guarantee Scheme for Large Deposits and Wholesale Funding Appropriation Bill 2008

In Committee

6:26 pm

Photo of Nick SherryNick Sherry (Tasmania, Australian Labor Party, Minister for Superannuation and Corporate Law) Share this | Hansard source

I would stress that we are not just talking about the big banks. There is a capacity for any of the financial institutions who put in an application and have it approved to access necessary capital, necessary borrowings. That is important, and we have outlined the importance of that. I can give you an update. There are 19 current applications received, with five approved on the website. Those are the latest figures that I have just been given.

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