David Barr
David Barr
capital cushion good
They've got a good cushion of capital there.
date remain withdraw
Your deposits will remain insured up to $100,000 even after the date change. But once you withdraw it, it's yours.
amount chip ensuring inflation insurance longer
This is a way of ensuring that inflation will no longer chip away at the amount of deposit insurance coverage.
bottom cut hold line million voted
The bottom line is we just voted to cut $2 million out of our budget, yet we're going to hold on to a May election. It comes down to cost.
banks cut individual starting
It's up to the individual banks as to when they ratchet those (relief measures) down. Some are starting to cut back a little.
benefit eating eroded inflation insurance limit low periods relatively
The benefit is if you have inflation, the deposit insurance limit will not be eroded and keep up. And if you have periods of relatively low inflation, that low inflation wouldn't be eroding or eating away at the insurance limit.
continues good industry number progress
The industry is making very good progress. The number of institutions (whose readiness) is unsatisfactory continues to decline.
consistent david good influence played positive signing terrific year
And David Barnes played a very good innings. He has been a terrific signing for us and has been very consistent all year as well as being a positive influence to the team.
issue likely precise rules
It is likely we will issue rules this year, but we don't have a precise timetable.
depends gauge hard information might whether
It's really hard to gauge timing. A lot depends on what negotiations might have to be made and whether we need more information from the applicant.
assets failed half literally lost overnight
It literally failed overnight from fraud. Half the assets were completely gone. A lot of retirees lost their money.
behind decision delay hearing hold needs scenes
We don't think that this will delay a decision on the application. There's still a lot that needs to be done behind the scenes on the application. While we're doing that, we can hold a hearing simultaneously.