The Australian government may be reviewing the proposed cap of $20,000 per customer on the proposed scheme of deposit insurance.The Australian reported that regulators are weighing up the policy in light of the increased caps introduced in Europe and the United States and the explicit and implicit guarantees in Ireland and Britain.According to the newspaper "bank branches have been besieged by depositors worried about the security of their deposits" but did not add any detail.The succession of bank failures in the northern hemisphere may have finally produced its first loss of savings for depositors in Iceland following the closure of one bank.In Australia the former government and regulators never fully resolved how to proceed with deposit insurance and a corresponding scheme covering the insurance sector after the collapse of HIH Insurance in 2001.Banks have so far opposed and to some extent delayed the introduction of a scheme, which the Labor government resolved to introduce several months ago.The government is yet to introduce the bill to parliament to establish the scheme.