Insuring for a crisis: deposit insurance and the GFC, the Australian and New Zealand experience

Jain, Ameeta, Keneley, Monica and Thomson, Di 2012, Insuring for a crisis: deposit insurance and the GFC, the Australian and New Zealand experience, Economic papers, vol. 31, no. 3, pp. 359-368, doi: 10.1111/j.1759-3441.2012.00182.x.

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Title Insuring for a crisis: deposit insurance and the GFC, the Australian and New Zealand experience
Author(s) Jain, AmeetaORCID iD for Jain, Ameeta
Keneley, MonicaORCID iD for Keneley, Monica
Thomson, DiORCID iD for Thomson, Di
Journal name Economic papers
Volume number 31
Issue number 3
Start page 359
End page 368
Total pages 9
Publisher Wiley-Blackwell Publishing Asia
Place of publication Richmond, Vic.
Publication date 2012-09
ISSN 0812-0439
Keyword(s) Deposit insurance
New Zealand
Summary Deposit insurance schemes were an important element in policy responses to the global financial crisis (GFC). There has been considerable debate about the nature and efficacy of such policy measures in alleviating the fallout from financial crises. The GFC highlighted problems associated with deposit insurance schemes including moral hazard, coverage limits, co-insurance, cross border issues and market distortions. Despite these shortcomings, deposit insurance schemes were able to ameliorate the financial panic experienced and reduce contagion. This paper evaluates the Australian and New Zealand experience with deposit insurance introduced in response to the GFC, and compares this to the OECD experience. It reflects on the performance of deposit insurance schemes considered against the attributes of good policy design, and evaluates the specific problems and strengths encountered during the GFC.
Language eng
DOI 10.1111/j.1759-3441.2012.00182.x
Field of Research 150203 Financial Institutions (incl Banking)
Socio Economic Objective 900101 Finance Services
HERDC Research category C1 Refereed article in a scholarly journal
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Document type: Journal Article
Collections: Faculty of Business and Law
School of Accounting, Economics and Finance
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