ðə stˈeɪt bˈæŋks dᵻpˈɑːzɪts wɜː lˈiːɡəli ˌʌndɚɹˈɪʔn̩ baɪ ðə ɡˈʌvɚnmənt ʌv sˈaʊθ ɔːstɹˈeɪliə, pˈʊɾɪŋ sˈaʊθ ɔːstɹˈeɪliə ˌɪntʊ bˈɪliənz ʌv dˈɑːlɚz ʌv dˈɛt.
The State Bank's deposits were legally underwritten by the Government of South Australia, putting South Australia into billions of dollars of debt.