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Latest Deposit Rates newsWholesale funding guarantee no longer neededWednesday, March 10th, 10:07am
Trading banks will no longer have access to government-guaranteed wholesale funding after the scheme - a response to the 2008 global financial crisis - closes on April 30, Finance Minister Bill English announced today."The wholesale funding facility was set up in November 2008 when the liquidity crisis had hit global markets," he told the New Zealand Australia Investment Forum in Auckland. "It helped our banks access funding during that crisis, but international market conditions have improved - and continue to improve in 2010. New Zealand banks are now raising funds without using the guarantee, which was always envisaged as a temporary measure for extraordinary times ...MORE »
Previous News
Allied looks for ways to back into guarantee schemeThursday, March 4th, 12:04pm
Allied Nationwide Finance is looking at ways to increase is capital so it can again be eligible for the goverenment's deposit guarantee scheme. MORE »Treasury questions beefed up trustee powers for Securities CommissionThursday, March 4th, 12:02am
The Treasury has questioned a proposal to beef up powers that will give the Securities Commission power to direct trustees in how they respond to breaches of trust deeds. MORE »Perpetual Trust weighing up Strategic Finance’s futureTuesday, March 2nd, 10:14pm
Perpetual Trust holds the fate of Strategic Finance in its hands after receiving the beleaguered finance company’s best option on Friday. MORE »Allied Nationwide unable to accept money at the momentMonday, March 1st, 10:57pm
Allied Nationwide, which acquired the Hanover and United loan book last year is unable to accept deposits until it gets a credit rating. MORE »Vision put into the high risk categoryFriday, February 26th, 12:52pm
Standard and Poor's has given a rating to Vision Securities and decided to put it into the high risk category. MORE »Flurry of finance company ratings continuesFriday, February 26th, 7:19am
The flurry of credit ratings for finance companies continues with Standard & Poor's giving a BB- rating to Broadlands Finance. MORE »Wrightson Finance profit down, impaired assets upFriday, February 26th, 6:53am
Profit at PGG Wrightson Finance tumbled 29% in the first half of the financial year as the finance arm of PGG Wrightson boosted its provisioning for bad loans. MORE » |
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