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BNZ applies for government's retail deposit scheme

Posted in News November 4, 2008 - 12:43pm, Bernard Hickey

BNZ said it has applied this morning to join the government guarantee scheme for its retail customer deposits. Westpac has said it applied to join the scheme yesterday. ANZ National and ASB have yet to announce they have applied to joint the scheme.

We welcome your help to improve our coverage of this issue. Any examples or experiences to relate? Any links to other news, data or research to shed more light on this? Any insight or views on what might happen next or what should happen next? Any errors to correct?

We welcome your comments below. If you are not already registered, please register to comment in the box on the right or click on the "'Register" link at the bottom of the comments. Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making these comments.

2 Comments

by James | 04 Nov 08, 3:51pm

Don't you mean "wholesale" deposits?

Don't you mean "wholesale" deposits? Or are banks having to re-apply due to the changes made to the "retail" guarantee scheme?

by Bernard Hickey | 04 Nov 08, 3:54pm

James It's just the retail

James
It's just the retail scheme that BNZ and Westpac have applied for. None have yet used the wholesale guarantee and may well not use it for some time.
cheers
Bernard