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{ 1 comment… read it below or add one }
I agree 100%, and I only have maybe 1000 NZD held in NZ by a bank.
A deposit guarantee of 50k for personal accounts (the average Kiwibank deposit is ~65k, based on 2005 numbers) is reasonable.
For business accounts, 100k is reasonable.
Latent moral hazards
– Yes, there will be some additional bureaucracy created by this
– Yes, there will need to be some transparent auditing involved Gov 2 Bank
– Yes, Foreign Investment will go up with the scheme; and that will have some repercussions
MP