Breaking News: NZ Government to guarantee all bank deposits

News just out today that the NZ government will provide a guarantee for all bank desposits. Details are sketchy but it seems it is opt-in and will cost banks a small amount.

It was inevitable but good to get it up front and out of the way. It could actually see money flow into NZ from overseas where deposit insurance schemes have a limit on them.

At least Kiwis can sleep a little better this evening presuming their bank opts in to the framework. More on this tomorrow.