News

Finance companies must get credit ratings

Thursday 4th of September 2008
Parliament, yesterday, passed The Reserve Bank Amendment Bill (No 3), which provides the central bank with its new powers.

“This is not intended to be a ‘quick fix’ response to current challenges facing the non-bank sector,” Finance Minister Michael Cullen says. “The new legislation is intended to raise standards across the industry and to improve the future resilience of the sector.”

Rese...

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