The Treasury

Global Navigation

Personal tools

Treasury
Publication

Annual Report of the Treasury for the Year Ended 30 June 2014

Administration of Guarantees and Indemnities given by the Crown Permanent Legislative Authority

What is Intended to be Achieved with this Appropriation

This appropriation is intended to achieve efficient and effective administration of the Crown's Guarantees and Indemnities, including the Wholesale and Retail Deposit Guarantee Schemes.

Scope of Appropriation

This appropriation is limited to expenses incurred in connection with administering of guarantees and indemnities given by the Crown, as authorised by section 65ZG of the Public Finance Act 1989.

Significant Work Completed

During 2013/14, the Treasury:

  • resolved outstanding litigation acquired by the Crown from receivers as part of the transfer of residual assets from receiverships under the DGS, but
  • did not undertake any other work in respect of this output, as there were no defaults of wholesale issuances under the Wholesale Funding Guarantee Facility (WFGF).
Performance Measure Target for 2013/14 Performance for 2013/14 Forecast for 2014/15
Meet our legal obligations under the Wholesale Guarantee Funding Facility and Retail Deposit Guarantee Scheme. Achieved Achieved Achieved
2013
Actual
$000
Administration of Guarantees and Indemnities given by the Crown Permanent Legislative Authority 2014
Actual
$000
2014
Main Estimates
$000
2014
Supp. Estimates
$000
2015
Unaudited Forecast as per BEFU 2014
$000
661 Expenses 322 110 418 110
 

Funded by:

       
661 Revenue  Crown 322 110 418 110

Expenditure is $96,000 under the Supplementary Estimates budget. Funding approved for potential legal costs in 2013/14 was not required.

Page top