A far back as November 2011, ASIC published a consultation document called ‘Term deposits that are only breakable on 31 days’ notice’. In this document ASIC said that, ‘The Basel III liquidity standards have the goal of promoting a more resilient banking sector, including improving the sector’s ability to absorb shocks arising from financial and economic stress. Term deposits that are only breakable on 31 days’ notice would achieve recognition...