@technofool the banks are covering themselves as best possible in regards to contracts, this is standard business practises as each party usually tries to cover themselves best possible when a contract is signed and get the best possible terms. Good luck one day when someone provides you with a rental agreement or a contract to buy a house.
You have the right to question everything in your contract with the bank, and thanks for doing so, as you have such a good relationship with "senior manangement" and they value your business so much I assume that they have taken heed to your concerns and will now change those clauses especially for you. Please could you ask them to change the clauses for all us laymen out there as well.
If for some ungodly reason they do not change these clauses to suit your needs, what you going to do? Is you matress big enough to hold all your cash, or will you be providing us with a summary of each banks terms and conditions in the near future?