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

Just in response to your earlier question, No. 2, I will have Treasury prepare a summation of the forms of guarantee and the way in which it is being done in a range of other countries around the world. I cannot give you the full world list but we will do our best to get you a list. I will take it on notice. You obviously want some detailed information, and we will give you as much as we reasonably can in the next week.

In respect of the revenue raised, I just make the point that it is not a revenue-raising exercise. It is very difficult to estimate, because it will depend on a range of factors: what institutions will apply to be covered, the value of the liabilities they want covered, deposits and/or wholesale funding, and how institutions administer the large deposit scheme vis-a-vis their clients. So any estimate—and this is why we have not done an estimate—would be highly speculative and highly unreliable. I think it would be reasonable to say in ‘due course’—after presumably some months of operation—we will obviously have a revenue figure which would be provided.