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= Q FINANCIAL REVIEW Newsfeed Millions at a time: RBA reveals run on cash during panic Depositors rushed to banks to withdraw large amounts of cash in some cases millions of dollars in response to the coronavirus economic panic last month, the Reserve Bank of Australia has revealed. The big cash withdrawals during the stock market crash have since "abated" Jollu Kelloe following emergency economic rescue measures introduced by the federal m government and central bank. Apr 9' 2020 _ \"mm The cash hoarding was detected at bank branches during the second half of El 53m A Share March and forced the ERA and commercial banks to hire extra security vans to ship more cash to bank vaults. The RBA's Financial Stability Review on Thursday said the banks were in a strong position to help the economy "absorb" the coronavirus shock. due to their high capital and liquidity levels built tip over recent years. Unlike the 2008 global nancial crisis when global banks were the root cause of the problems and cut lending, this time around commercial banks are playing a central role in absorbing the shocks by offering loan deferrals and onlending cheap EBA credit to households and businesses. EBA assistant governor Michele Bullock said on Thursday. "Tile Australian nancial system is strong and well placed to support households and businesses through this difcult period and in the recovery that will follow."