Wow. Bummer for netbank customers.

Hypothetical question to the experts:

Savings - 100k
Checking 10k
Owe on Credit Card - 10k

Your total depoists are 110k but only 100k are insured -- so you'd potentially lose the extra 10k. Would they credit that to your credit card payment (in this case, if you normally pay your bills on the 1st of the month, and would have paid off the 10k balance in full from checking, but the bank went under on the 28th... you'd be hosed). How would this work?