Australian Treasurer Wayne Swan said on Monday there were no instant solutions to securing the future of Australia's non-bank investment funds.
"There are no instant solutions. What we are dealing with here are market-linked investments, and the government understands the hardships that people are going through," Australian Associated Press quoted the treasurer as saying in Brisbane, the capital of Queensland state.
"We are working with the industry as assiduously as we can to see what appropriate steps can be taken," he told reporters.
Regulatory bodies and the investment funds were holding talks in Canberra on Monday to make further adjustments to the government's scheme to cushion the impact of the crisis.
While banks are covered by the scheme, investment funds are not and have frozen billions of dollars in assets to avoid a further rush of redemptions in a flight to guaranteed deposits.
Source: Xinhua
|
Comment
Tell A Friend
Print Format
Save Article