REDRAW V OFFSET

[nettie9490]

@im911 Someone wasn't around in 2008 when the major banks imposed limits on redraws to protect their capital base during the GFC

 

[meleas]

@nettie9490 Or May 2020 when ME Bank absorbed redraw balances. While they ultimately reversed the decision due to public backlash given the unprecedented times, they were well within their rights to have done so. This is a simple fact of redraw facilities.

 

[im911]

@nettie9490 Believe it or not, I was. We had severe restrictions in lending, but no changes to redraw AFAIK

Can you please post a link.

 

[nettie9490]

@im911 I worked for CBA, we had armed guards to deal with the backlash

 

[im911]

@nettie9490 WOW - don't remember that

Should be easy enough to find a link then?