Rates Round Up

Two fin coys that pulled out of govt guarantee yet to produce prospectuses
Two of the six financial institutions that pulled out of the government's retail deposit guarantee have yet to produce new prospectuses to attract new funds.

Gisborne-based Rockforte Finance and FMG Finance, which stopped lending and investment from new customers in March last year, are the only two companies that have not lodged new prospectuses with the Companies Office. Neither company was available for comment.

Asset Finance, Christchurch Emergency Services Credit Union, Aotearoa Credit Union and Mutual Credit Finance have all lodged new prospectuses to attract deposits that are not covered by the government's guarantee.

Marac looks to late January for non-guaranteed term deposits
Marac expects to offer non-guaranteed term deposits from January 20 this year after it announced it would be offering the amended terms just before Christmas last year.