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SCF related-party lending faces severe prune under draft rules

Monday 13th of July 2009

The draft, put out for submission in December, proposes capping aggregate exposure for NBDTs at 15% of Tier 1 capital. That would require SCF to reduce related party lending to just $14 million from $170 million, according to Forsyth Barr analyst Luke Angus.

Based on the firm's accounts for the first half ended December 31, related party lending soared 165% from six months earlier, with...

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