Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Hansard source

As the Leader of the Opposition would be aware from the briefing he has had today from Treasury at the instigation of the government, first and foremost, all those institutions which would make an application for access to this particular guarantee are APRA regulated. Secondly, he would be aware from that briefing that, when making an application for access to that particular guarantee, APRA would further examine the suitability of those institutions. Thirdly, APRA also would then, together with the government, enter into negotiations with each individual institution about the terms of the guarantee and any insurance premium which would be attached to it—in other words, the fee attached. In terms of the commercial disclosure arrangements associated with those matters, we will take the advice of APRA and we will inform the Leader of the Opposition in due course.

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