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3 Comments
As [the only?] OECD country without a deposit guarantee scheme, it's hard to argue that depositors should make informed decisions if the information on which to make such decisions is withheld. Introduce a meaningful deposit guarantee, or release full information, in either case immediately. Delay only holds the wool over Kiwis' eyes while kicking our feet from underneath us all. OK to protect banks' blushes with a comprehensive scheme, but if it's a puny "pretend to have a deposit guarantee", Kiwis still need the data for informed decisions.
We will keep it a secret so we can quietly have an OBR event without you getting your cash out beforehand! Surely it will be disclosed in the Audited accounts? But now we can not have provisions for non performing loans and a requirement for additional capital in the world of Orr and Robertson anything is possible as long as we protect the indebted and they borrow more to spend more on houses.....
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