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GE Capital to de-leverage, reduce borrowing and bolster capital

GE Capital to de-leverage, reduce borrowing and bolster capital

GE Capital, which owns GE Money and Wizard here in New Zealand, announced overnight it plans to deleverage globally to strengthen its capital position and reduce its reliance on wholesale funding. GE Capital is currently relying on sales of Commercial Paper to the US Federal Reserve. GE's CFO Keith Sherin told Bloomberg in an interview GE Capital would cut the amount of commercial paper it issues, reduce leverage and accelerate deposits it takes.

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