Senator GALLAGHER (Australian Capital Territory—Minister for the Public Service, Minister for Finance, Minister for Women, Manager of Government Business in the Senate and Vice-President of the Executive Council) (14:30): I welcome the opportunity to talk to the Senate about the strength of our banking system, because I think it is important to reassure Australians that we have a very strong, well-regulated, well-led, well-capitalised banking system with good liquidity. I think that should provide reassurance to the Australian people about the system that we have in place. It's been strengthened considerably in the years since the GFC and since the banking royal commission. It's obviously a vital and important sector for the overall functioning of our economy. I would also say that the Treasurer and the Assistant Treasurer meet regularly and are getting updates regularly on the global situation and on what we have been seeing happening overseas. This includes meeting with the regulators of our system to get up-to-date advice. The PRESIDENT: Senator Roberts, a point of order? Senator Roberts: I asked specifically for the minister to assure constituents that, in the event of a banking failure, every cent in every Australian's bank account will be guaranteed. I'm not interested in overseas. I just want to know about that, for every cent. The PRESIDENT: Thank you, Senator Roberts. I believe the minister is being relevant to your question. Senator GALLAGHER: I only briefly talked about overseas. I was giving that as additional reassurance. In the initial part of my remarks, my answer was about the strength of the Australian banking system, which is where Australians have their deposits and have their money. I was providing that reassurance that Senator Roberts was seeking about the strength of the banking system and the fact that we are taking advice. In fact, the Treasurer and the Assistant Treasurer are getting briefings regularly about the situation overseas, because that directly links to your question, which relates to some of the concerns that we have seen in banks overseas. We are connected in a global world, so we do keep an eye on that in order to keep an eye on what is happening in Australia. (Time expired) The PRESIDENT: Senator Roberts, your first supplementary question?