Australia, reduced the guarantee on citizens' bank deposits

Uncertainty in international markets prompted the Australian Government to extend the state guarantee on bank deposits established three years ago as an emergency measure to protect smaller lenders from the international financial crisis.
The ceiling, foreseen for one million Australian dollars, will however be lowered to 250 thousand dollars per person starting from February 1st. The changes to the so-called "Financial Claim Scheme" were under discussion since last May and, for the Australian Government, the package will continue to be a "life preserver" for the majority of citizens of the country-continent. According to calculations by the Australian Treasury, the $250 limit will in fact cover 99% of bank accounts and 82% of the value of deposits. Despite the lowering of the cap, Australia will have one of the highest protection schemes in the world. It will be lower than that in force in the United States (which has coverage equivalent to AUD 288), but more than double that of Canada and Japan and higher than the UK, which provides for a cap of AUD 167.

http://www.smh.com.au/business/government-deposit-guarantee-to-drop-to-250000-in-february-20110911-1k456.html