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REFILE-Australia's NAB to use govt guarantee on funding

Sun Nov 30, 2008 8:13pm EST

Stocks

   

(Corrects day of week to Monday)

CANBERRA, Dec 1 (Reuters) - The National Australia Bank (NAB.AX) would use the Australian government's guarantee on wholesale term funding, it said on Monday, after legislation to bolster the plan passed through parliament last week.

"Yes, we will be using the guarantee, along with the other banks, and I expect that will enable all of the banks to meet all of their requirements for term funding," NAB group chairman Michael Chaney told reporters in Canberra. (Reporting by James Grubel)



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