Here’s a quiet correction that’s been issued but not confessed by the AFR. Here the new bank levy story:
The proposed levy would be between 0.05 per cent and 0.1 per cent. Presently, the government guarantees deposits up to $250,000 without charging the banks.
Here’s the original:
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The proposed levy is between 0.5 per cent and 1 per cent on protected deposits with the level set at $100,000. Presently, banks pay the government a fee to guarantee deposits over $250,000.
What’s a decimal place between friends?