Marac Finance Managing Director Brian Jolliffe suggested on Friday a reduction in the size of the guaranteed amount per account was one way to transition out of the current Government Guarantee due to expire in October next year. "There might be some argument for a scaling down of the guarantee," Jolliffe told interest.co.nz. He suggested a cut from the current NZ$1 million per depositor per guaranteed institution to NZ$100,000 per depositor.. Meanwhile, Jolliffe said Marac was managing its liquidity profile as if the guarantee would expire on schedule in October next year and 30% of its new deposits were for maturities expiring after the guarantee expiry date. * This article was first published on Friday in our daily subscription newsletter for the banking and finance industries. The email costs NZ$365 per annum and carries exclusive news and analysis for New Zealand banking and finance industry executives, regulators and investors. Sign up for a free trial here.
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