Australian Government has guaranteed deposits up to $250,000

https://www.rba.gov.au/publications/bulletin/2011/dec/pdf/bu-1211-5.pdf
http://www.apra.gov.au/adi/publications/pages/monthly-banking-statistics.aspx
https://www.rba.gov.au/information/foi/disclosure-log/pdf/121304.pdf
The Financial Claims Scheme (FCS) in Australia is supposed to guarantee deposits up to $250,000, yet in reality, this scheme is worthless.

The Financial Services Compensation Scheme (FSCS) makes provision for paying out only $20 billion in insurance on deposits in any single troubled bank, even though each of the Big Four individually has around $200 billion in insured deposits. 

Even the Australian Prudential Regulation Authority (APRA) and the FSB have observed that this level is woefully inadequate for the eventuality of a failure of any of the Big Four banks. As recorded in the minutes of the Australian Council of Financial Regulators 19 June 2009 meeting, when discussing the deposit guarantee scheme “APRA noted … failure by one of the four largest institutions would be likely to exceed the scheme’s resources.” The FSB’s own 21 September 2011 Peer Review of Australia Report stated, “The limit of $A20 billion per ADI [Authorised Deposit-taking Institution] would not be sufficient to cover the protected deposits of any of the four major banks…”