With what will they guarantee deposits?
The rainy day fund? I doubt that would cover residents deposits.
As stated by Frank Walker they are more than happy to guarantee residents deposits since they are aware that none of the local banks would be allowed to fail or else it would be tits up for the entire banking community! Well not exactly in those words. The bigger issue, the guarantee of all deposits ,
500 billion ? And if no guarantee for those , why would they want to stay?
Theres a hole in my bucket dear Philip , dear Philip ,,,,,,,,,,,,,,etc