The $20B is a total amount that is limited to that from the Reserve Bank under current legislation. A legislation amendment will increase that if more money is required to meet guarantees. It is NOT a per bank figure, NOR is it limited to the big 4.
The list of FCS banks is long and posted above. They are all equal under the legislation. Is there 40 of them ?? I did not count them. Deposits cannot be bailed-in so do not go down with the bank…….
Frankly if banks started to fail and the government road blocked this then aussie has bigger issues than a broken “promise”.
https://www.aph.gov.au/Parliamentar…e/Economics/CrisisResolutionPowers/Report/c02
2.37 Treasury confirmed that because deposits are not classified as capital instruments, and do not include terms that allow for their conversion or write-off, they cannot be ‘bailed-in’.