A security boost for New Zealand banks, with a Government deposit guarantee scheme
A security boost for New Zealand banks, with a Government deposit guarantee scheme
22 April 2021
The package announced today aims to protect interests in the banking and financial system, and includes guaranteeing deposits up to 100-thousand-dollars for each eligible institution.
Bankers Association chief executive Roger Beaumont says this brings us in line with many other countries.
He says our banks are already reliable - getting through the global financial crisis and Covid-19 - but this is just another layer of security.
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