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ANZ Banking Group CEO Shayne Elliott says Australia's mortgage and deposit markets more competitive than NZ in rising interest rate environment
9th May 23, 5:57pm
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2 Comments
That's because Australia has a deposit insurance scheme that covers hundreds of deposit taking institutions. In NZ you are left to your own devices to judge a deposit taking institution's credit risk, so naturally people avoid the second tier lenders and stick with the big 4. And without the deposit base, the second tier lenders can't offer competitive mortgages.
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