In response to the GFC and the global liquidity crisis the Australian government introduced the following measure in 2008:

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The Financial Claims Scheme that guaranteed bank deposits coverage to depositors up to a million dollars per depositor and provided a temporary wholesale funding guarantee, was the measure introduced by the Australian government in response to the GFC and the global liquidity crisis in 2008. This scheme aimed to restore confidence in Australia's financial system by protecting depositors and providing temporary liquidity support to financial institutions. Option A is incorrect because it implies that all depositors in any financial institution were covered, which is not true. Option B is also incorrect as it only covers deposits up to a million dollars, while option C provides the same coverage and more. Option D is incorrect because it suggests that all options are correct, which is not the case.

In Response to the GFC and the Global Liquidity Crisis