News

ASB first big bank to get guarantee

Wednesday 5th of November 2008
It joins Citibank, Kiwibank, Rabobank, SBS and TSB on the approved list.

ASB’s approval comes against a backdrop of rumours that the big banks opposed joining the retail scheme as their fees are essentially being used to allow finance companies to be covered by the scheme.

Under the scheme institutions with more than $5 billion in assets are being charged at 10 basis points which equates...

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