The Law To Stop Bail-In Is Dead On Arrival

Economist John Adams and Analyst Martin North discusses the latest on the attempt to clarify the current status of Deposit Account Bail-In.

Has the current Senate Inquiry got the full picture?

https://www.abc.net.au/news/2020-07-16/coronavirus-crisis-heightens-fears-bank-deposits-could-be-wiped/12458462?section=business

https://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=s1257

Stop Bank Deposit Bail-In – Once And For All

Economist John Adams and Analyst Martin North discuss the Senate Inquiry into the proposed change to existing legislation to make Bank Deposit Bail-In illegal. [Banking Amendment (Deposits) Bill 2020]. The inquiry is open for just a couple of weeks, and its open to receive submissions now.

https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/BankingDeposits

If, as the Government and APRA say, Deposits will never be bailed-in, then this should be passed at once. But if there is obfuscation it means there is the wish to keep the option firmly open, which would be a concern give the current economic situation, Who will blink first?

Bank Customers Who Didn’t Read Their T&C’s Get Smashed

Economist John Adams and Analyst Martin North picks apart the issues around ME Bank’s reductions in redraw facilities and highlights the questions people need to ask more generally about offset and redraw mortgages.

ME Bank has since relented, sort of…

https://www.abc.net.au/news/2020-05-08/me-bank-redraw-changes/12229080