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ecently an important government decision slipped by all but totally ignored by a media which seem to think that murders, court cases, world mayhem, government glitches and Hollywood celebrities are more important.
I refer to the decision of the Government to go with the Reserve Bank’s Open Bank Resolution (OBR) policy.
OBR does not to insist that banks operating in New Zealand carry some version of a deposit insurance scheme to protect its customers in case of bank failure. Rather, in the case of a bank failing money would be taken from depositor’s accounts to make up any shortfall. I.E the Cyprus solution. … Continue Reading
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