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Information release

Crown Retail Deposit Guarantee Scheme and Wholesale Funding Guarantee Facility Information Release

Issue date: 
Friday, 25 September 2009
Status: 
Current
Corporate author: 

The Treasury has released documents relating to the development of government policy on the retail deposit guarantee scheme, that scheme’s extension, and the wholesale funding guarantee facility.

On 12 October 2008, the Government announced that it would offer a Crown retail deposit guarantee scheme to ensure ongoing retail depositor confidence in New Zealand’s financial system, given turbulence in the international financial system. This announcement was prompted by the introduction of a guarantee scheme in Australia.

Following the announcement Treasury and Reserve Bank officials continued to develop the scheme, with details being progressively released on the Treasury website. The final detail of the original scheme is most fully set out in the Cabinet paper of 20 October 2008: Crown Deposit Guarantee Scheme: Implementing and monitoring the scheme.

On 1 November 2008 the Government announced the provision of a Crown wholesale funding guarantee in order to facilitate access by New Zealand financial institutions to international financial markets, in a global environment where international investors remain highly risk averse and where many other governments have offered guarantees on their banks’ wholesale debt. The final detail of this facility is most fully set out in the Cabinet paper of 4 November 2008: Crown wholesale guarantee facility: implementing and monitoring the scheme.

The government announced on 25 August 2009 that it will extend the retail deposit guarantee scheme to 31 December 2011 and change some of its terms and conditions. The current scheme ends on 12 October 2010. On 13 September 2009 the Crown Retail Deposit Guarantee Scheme Act came into force, providing legislative authority for the extension of the scheme.

See the Economy > Guarantees section of the Treasury website for operational details of the retail deposit guarantee scheme (including a list of approved institutions), the extended retail deposit gurantee scheme and the wholesale funding guarantee facility.

 

Deletions to Documents

Some of the content of these documents has been deleted:

  • where it is considered necessary to:
    • protect the privacy of natural persons, including deceased people;
    • maintain the effective conduct of public affairs through the free and frank expression of opinions;
    • avoid prejudice to the substantial economic interests of New Zealand;
    • enable commercial negotiations without prejudice or disadvantage;
    • maintain professional legal privilege;
    • protect the confidentiality of advice tendered by Ministers of the Crown and officials;
    • avoid prejudice to international relations; or
  • where the release of information would be likely to unreasonably prejudice the commercial position of the person who supplied or who is the subject of the information.

Where these deletions have been made, the appropriate reason for deletion has been inserted as a reference.

 

Documents

There are 38 documents in this information release, listed in chronological date order with the most recent document at the top. Documents are available in Adobe PDF format only. HTML versions can be supplied on request by Information Services.
Using PDF Files
Doc. Date Created By Title Download
16 Sep 2009 The Treasury Treasury Report T2009/2133: Extended RDGS: Final Documents for Approval
Released 25 September 2009
t2009-2133.pdf (74 KB)

8 Sep 2009 The Treasury Aide Memoire: RDGS Fees below BB Credit Rating
Released 25 September 2009
am-tsy-mof-8sep09.pdf (31 KB)

4 Sep 2009 The Treasury Treasury Report T2009/2071: Extended RDGS: Eligibility Criteria, Delegation Letter and Policy Guidelines
Released 25 September 2009
t2009-2071.pdf (131 KB)

28 Aug 2009 Cabinet Office Cabinet Minute CAB Min (09) 31/8: Report of the Cabinet Legislation Committee: Period Ended 28 August 2009
Released 25 September 2009
cab-min-09-31-8.pdf (23 KB)

27 Aug 2009 Cabinet Office Cabinet Legilative Committee Minute LEG Min (09) 20/1: Crown Retail Deposit Guarantee Scheme Bill: Approval for Introduction
Released 25 September 2009
leg-min-09-20-1.pdf (20 KB)

[25 Aug 2009] Minister of Finance Memorandum for Cabinet Legislation Committee LEG (09) 121: Crown Retail Deposit Guarantee Scheme Bill: Approval for Introduction
Released 25 September 2009
leg-09-121.pdf (40 KB)

21 Aug 2009 The Treasury Treasury Report T2009/1973: Retail Deposit Guarantee Scheme Bill: Cabinet Legislation Committee Paper
Released 25 September 2009
t2009-1973.pdf (41 KB)

17 Aug 2009 Cabinet Office Cabinet Minute CAB Min (09) 29/2: Extending the Retail Deposit Scheme
Released 25 September 2009
cab-min-09-29-2.pdf (32 KB)

10 Aug 2009 Cabinet Office Cabinet Business Committee Minute CBC Min (09) 10/1: Extending the Retail Deposit Guarantee Scheme
Released 25 September 2009
cbc-min-09-10-1.pdf (33 KB)

[7 Aug 2009] Minister of Finance Memorandum for Cabinet Business Committee CBC (09) 88: Extending the Retail Deposit Guarantee Scheme
Released 25 September 2009
cbc-09-88.pdf (73 KB)

6 Aug 2009 The Treasury Treasury Report T2009/1839: Cabinet Paper: Extending the Retail Deposit Guarantee Scheme
Released 25 September 2009
t2009-1839.pdf (31 KB)

4 Aug 2009 The Treasury Aide Memoire: Residual Deposit Guarantee Scheme Issues
Released 25 September 2009
am-tsy-mof-4aug09.pdf (26 KB)

31 Jul 2009 The Treasury & Reserve Bank Treasury Report T2009/1791: Cabinet Paper on Extending the Retail Deposit Guarantee Scheme
Released 25 September 2009
t2009-1791.pdf (77 KB)

14 Jul 2009 The Treasury Presentation Slides: Retail Deposit Guarantee Scheme: Exit Options [for 14 July Meeting with the Prime Minister]
Released 25 September 2009
tsy-pres-14jul09.pdf (104 KB)

29 Jun 2009 The Treasury Treasury Report T2009/1589: Advice on Design, Management and Resolution Options for the Retail Deposit Guarantee Scheme
Released 25 September 2009
t2009-1589.pdf (136 KB)

3 Jun 2009 The Treasury Presentation Slides: Management & Resolution in DGS [for 3 June Meeting with the Minister of Finance]
Released 25 September 2009
tsy-mof-pres-3jun09.pdf (55 KB)

3 Jun 2009 The Treasury & Reserve Bank Presentation Slides: Retail Deposit Guarantee Scheme: Exit Options [for 3 June Meeting with the Prime Minister]
Released 25 September 2009
tsy-rb-pres-3jun09.pdf (102 KB)

2 Jun 2009 The Treasury Treasury Report T2009/1347: Australian DGS Legislation
Released 25 September 2009
t2009-1347.pdf (30 KB)

2 Jun 2009 The Treasury Treasury Report T2009/1354: Meeting Discussion with the Prime Minister on Deposit Guarantee Exit
Released 25 September 2009
t2009-1354.pdf (24 KB)

21 May 2009 The Treasury & Reserve Bank Joint Report T2009/1271: Cabinet and Legislative Process for Extension to DGS
Released 25 September 2009
t2009-1271.pdf (42 KB)

[29 Apr 2009] The Treasury Presentation Slides: DGS: Monitoring, Management & Resolution: Managing Exposure under the Retail Deposit Guarantee Scheme
Released 25 September 2009
tsy-pres-29apr09.pdf (80 KB)

28 Apr 2009 The Treasury & Reserve Bank Joint Report T2009/1049: Retail Deposit Guarantee Scheme: Transitional Arrangements
Released 25 September 2009
t2009-1049.pdf (149 KB)

4 Nov 2008 Minister of Finance Memorandum for Cabinet: Crown Wholesale Guarantee Facility: Implementing and Monitoring the Scheme
Released 2 December 2008
cabmem-4nov08.pdf (54 KB)

4 Nov 2008 Cabinet Office Cabinet Minute CAB Min (08) 41/15: Additional Item: Crown Wholesale Guarantee Facility: Implementing and Monitoring the Facility
Released 2 December 2008
cabmin-08-41-15.pdf (157 KB)

3 Nov 2008 The Treasury Treasury Report T2008/2118: Wholesale Guarantee Facility: Cabinet Paper
Released 2 December 2008
t2008-2118.pdf (74 KB)

3 Nov 2008 The Treasury Treasury Report T2008/2122: Retail Guarantee Scheme - Collective Investment Schemes Policy Guidelines
Released 2 December 2008
t2008-2122.pdf (51 KB)

30 Oct 2008 The Treasury & Reserve Bank Joint Report by the Treasury & Reserve Bank T2008/2109: Update on the Design Features of a Wholesale Guarantee Facility and Other Issues
Released 2 December 2008
t2008-2109.pdf (73 KB)

24 Oct 2008 The Treasury & Reserve Bank Joint Report by the Treasury & Reserve Bank T2008/2069: A Wholesale Guarantee Facility: Detailed Design Issues and an Overall Assessment
Released 2 December 2008
t2008-2069.pdf (119 KB)

21 Oct 2008 The Treasury & Reserve Bank Joint Report by the Treasury & Reserve Bank T2008/2051: Retail Further Issues on Pricing and Coverage
Released 2 December 2008
t2008-2051.pdf (102 KB)

21 Oct 2008 The Treasury Treasury Report T2008/2024: Retail Deposit Guarantee Scheme - Amended Policy Guidelines
Released 2 December 2008
t2008-2024.pdf (52 KB)

20 Oct 2008 Minister of Finance Memorandum for Cabinet: Crown Deposit Guarantee Scheme: Implementing and Monitoring the Scheme
Released 2 December 2008
cabmem-20oct08.pdf (113 KB)

17 Oct 2008 The Treasury & Reserve Bank Joint Report by the Treasury & Reserve Bank T2008/2036: Possible Wholesale Funding Guarantee Facility: Issues and Options
Released 2 December 2008
t2008-2036.pdf (110 KB)

17 Oct 2008 The Treasury Treasury Report T2008/2031: Deposit Guarantee Scheme
Released 2 December 2008
t2008-2031.pdf (59 KB)

15 Oct 2008 The Treasury Treasury Report T2008/2017: Deposit Guarantee Scheme: Fiscal Implications and Accounting Treatment
Released 2 December 2008
t2008-2017.pdf (69 KB)

14 Oct 2008 The Treasury Treasury Report T2008/2013: Retail Deposit Guarantee Scheme: Further Issues
Released 2 December 2008
t2008-2013.pdf (93 KB)

13 Oct 2008 The Treasury Treasury Report T2008/2008: Deposit Guarantee Scheme: Additional Issues
Released 2 December 2008
t2008-2008.pdf (83 KB)

12 Oct 2008 The Treasury & Reserve Bank Aide Memoire by the Treasury & Reserve Bank T2008/2001: Responding to the Prospect of a Worsening Financial Crisis in New Zealand
Released 2 December 2008
t2008-2001.pdf (67 KB)

10 Oct 2008 The Treasury & Reserve Bank Joint Report by the Treasury & Reserve Bank T2008/2000: Responding to the Prospect of a Worsening Financial Crisis in NZ
Released 2 December 2008. In para. 79 of the report, 0.1 percent should read 1.0 percent.
t2008-2000.pdf (725 KB)

Contact for Enquiries

Information Services
Email: information@treasury.govt.nz
Last updated: 
Friday, 25 September 2009