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Westpac opts in to the deposit guarantee scheme

Posted in News October 13, 2008 - 01:33pm, Bernard Hickey

Westpac New Zealand has announced it will opt in to the deposit guarantee scheme announced by the government.

"Westpac New Zealand will engage with the Minister and the Reserve Bank to work through the detail required to put an effective guarantee scheme in place," Acting CEO Bruce McLachlan said in a staement.

Westpac New Zealand supported the approach of reassuring New Zealanders and understood the pressure to act given similar moves around the world, he said.

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