The Government wants to shore up protection of the cash Kiwis have in the bank
The Government wants to shore up protection of the cash Kiwis have in the bank
18 December 2019
Latest proposals from its review of banking laws include introducing a deposit insurance scheme of 50 thousand dollars per bank.
Finance Minister Grant Robertson says it will cover 90 percent of depositors.
The Reserve Bank recently told banks to build their capital - to lessen the impact of a financial crisis.
Robertson says that's the fence at the top of the cliff, the deposit insurance scheme's the ambulance at the bottom.
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