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Kevin Rudd ... Bank deposits are safe.

Kevin Rudd ... Bank deposits are safe.

Rudd guarantees all bank deposits Photo

Prime Minister Kevin Rudd has announced that the Government will guarantee all deposits in Australian banks, building societies and credit unions for the next three years.

Mr Rudd has announced the measures in response to the global financial crisis, making the Federal Government liable for up to $700 billion in bank deposits.

Tags: business-economics-and-finance, consumer-protection, economic-trends, industry, banking, government-and-politics, federal-government, international-financial-crisis, australia

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