News

New Zealand's lack of deposit insurance unusual

Thursday 11th of April 2013

The Reserve Bank is planning to implement Open Bank Resolution, which could leave account-holders facing a loss if a bank falls over.

The  scheme would mean a failed bank has to write down the value of the most pressing unsecured liabilities straight away in the event of statutory managers being called in, so service can resume the next day and allow customer transactions to keep fl...

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