New Zealand Gazette – 2009 – No. 140

Page 3333

✨ Financial Notices



24 SEPTEMBER 2009 NEW ZEALAND GAZETTE, No. 140 3333

Schedule 3
Rates of interest payable on investment deposits repayable at the end of a fixed term
Interest payable on maturity; monthly or quarterly

$5,000-$9,999 $10,000-$49,999 $50,000-$249,999 $250,000+
% p.a. % p.a. % p.a. % p.a.
3 mths 2.50 3.00 3.00 3.00
6 mths 2.50 3.10 3.10 3.10
9 mths 2.50 3.15 3.15 3.15
1 yr 3.00 3.25 3.25 3.25
18 mths 3.00 3.25 3.25 3.25
24 mths 3.00 3.75 3.75 3.75
30 mths 3.00 4.00 4.00 4.00
36 mths 3.00 4.50 4.50 4.50
4 yrs 3.00 4.90 4.90 4.90
5 yrs 3.00 5.10 5.10 5.10

Interest payable monthly and quarterly

$20,000-$49,999 $50,000-$249,999 $250,000+
% p.a. % p.a. % p.a.
6 mths 3.10 3.10 3.10
9 mths 3.15 3.15 3.15
1 yr 3.25 3.25 3.25
18 mths 3.25 3.25 3.25
24 mths 3.75 3.75 3.75
30 mths 4.00 4.00 4.00
36 mths 4.50 4.50 4.50
4 yrs 4.90 4.90 4.90
5 yrs 5.10 5.10 5.10

Dated at Wellington this 22nd day of September 2009.

GAYLENE TURBOTT, Secretary of the Pricing Committee, Public Trust.

go7949

The Treasury

Crown Retail Deposit Guarantee Scheme Act 2009

Crown Retail Deposit Guarantee Scheme – Eligibility for Extended Scheme

I, Simon William English, Minister of Finance, give notice under section 5 of the Crown Retail Deposit Guarantee Scheme Act 2009, of:

(a) the types of entity in respect of which guarantees may be given under section 6 of that Act; and

(b) the criteria for entities to satisfy before such guarantees may be given

to take effect as from the date of this notice.

Types of Entity in Respect of Which Crown Guarantees May be Given

The types of entity in respect of which Crown Guarantees may be given under section 6 of the Crown Retail Deposit Guarantee Scheme Act 2009 are:

(a) banks registered under the Reserve Bank of New Zealand Act 1989;

(b) building societies as defined in the Building Societies Act 1965;

(c) credit unions as defined in the Friendly Societies and Credit Unions Act 1982;

(d) other deposit taking institutions such as finance companies.

Criteria for Entities to Satisfy

Entities must satisfy the following criteria before they can be considered for entry into the extended scheme.

For existing entities

(a) An entity that, as at the date of its application for a Crown Guarantee under the extended scheme, is an Approved Institution under the existing scheme:

  • whose Crown Guarantee has not been withdrawn as at that date; and
  • that has not been subject to a default event (as that term is defined in the Crown Guarantee under the existing scheme); and
  • that holds a credit rating from Standard and Poor’s or Fitch of BB or above or holds a credit rating from Moody’s of Ba2 or above.

For new banks

(b) An entity that, as at the date of its application for a Crown Guarantee under the extended scheme is an Approved Institution under the existing scheme, has met the eligibility criteria set out in paragraph (a) above and that has gained registration as a bank under the Reserve Bank Act 1989.

(c) Any other entity that, as at the date of its application for a Crown Guarantee under the extended scheme, has gained registration as a bank under the Reserve Bank Act 1989, and that:

  • holds a credit rating from Standard and Poor’s or Fitch of BB or above; or
  • holds a credit rating from Moody’s of Ba2 or above.

Merged Entities and Controlling Institutions

(d) An entity that is a Merged Entity that has been constituted as such, after the date of this notice; and

(e) other bank like entities (such as finance companies), established after 12 October 2008;



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Online Sources for this page:

Gazette.govt.nz — PDF NZ Gazette 2009, No 140




✨ LLM interpretation of page content

🏢 Public Trust Common Fund Interest Rates Notice (continued from previous page)

🏢 State Enterprises & Insurance
22 September 2009
Interest Rates, Public Trust, Deposits, Investment
  • Gaylene Turbott, Secretary of the Pricing Committee, Public Trust

💰 Crown Retail Deposit Guarantee Scheme Eligibility Notice

💰 Finance & Revenue
Deposit Guarantee, Eligibility, Banks, Building Societies, Credit Unions
  • Simon William English, Minister of Finance