As global credit crunch reached its pinnacle following the bankruptcy of Lehman Brothers, which dealt a psychological blow to the domestic market, in November 2008 the Government took over Bank Century in order to maintain national banking stability.
6  The frequency and size of overnight liquidity injections (SPRAs) was greater than normal on 9 and 10 August 2007, in early October, from mid-November to early January 2008, as well as ahead of the 30 April quarter end for chartered banks. The level of settlement balances in the payments system was generally (but not always) targeted at higher-than-normal levels over these periods.