Senate debates

Wednesday, 26 November 2008

Guarantee Scheme for Large Deposits and Wholesale Funding Appropriation Bill 2008

In Committee

6:22 pm

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

I am told there have been discussions in the broad with financial institutions about what they would be doing. But, as I have already indicated, it is very difficult for them to give precise figures, for the reasons I have given you: they have to make a commercial decision on the day—for example, in the world financial market—about where they will go, and that may change from day to day.

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