Australian Corporations - A Solution to Crowding Out in the United States

Australia formed a registered company in the name of the commonwealth of australia, with the financial backing of the treasury department. Institutions wouldn't invest in the country because there was nothing to stop them from changing their own laws to say we don't need to pay this back. This effect is called crowding out. No authorized deposit guarantee payout has ever been made as no bank has gone under since the measure was put in place.