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Treasury should have limited finance company deposits: AG

Tuesday 4th of October 2011

In her report on the scheme, which has cost the government about $2 billion in payouts to depositors, Provost says Treasury officials recognised from the outset the guarantee could result in finance companies having less reason to minimise risks.

One finance company's deposits grew from $800,000 to $8.3 million under the scheme and the company which caused the government the greatest cos...

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