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Media statement

South Canterbury Finance Documents Published

Issue date: 
Friday, 15 October 2010
Status: 
Current
Corporate author: 
View point: 

The Treasury today published documents relating to South Canterbury Finance’s participation in the recently expired Retail Deposit Guarantee Scheme.

The information published today covers three significant periods:

  1. October and November 2008, covering the initial application by South Canterbury Finance to join the Retail Deposit Guarantee Scheme, and the subsequent approval by the Crown.
  2. January to April 2010, covering the application by South Canterbury Finance to participate in the Extended Deposit Guarantee Scheme, and the subsequent approval by the Crown.
  3. August to October 2010, covering the period when the Board of South Canterbury Finance asked Trustees Executors Ltd to appoint receivers, triggering payment by the Crown to depositors under the Retail Deposit Guarantee Scheme.

The documents are available at: www.treasury.govt.nz/publications/informationreleases/scf

The Treasury anticipates future publication of more documents relating to South Canterbury Finance’s participation in the Retail Deposit Guarantee Scheme. Any future publication of documents will cover time periods that are not covered in today’s information release.

The Reserve Bank of New Zealand will also publish additional documents relating to South Canterbury Finance soon.

 

Contact for Enquiries

[Angus Barclay | Senior Communications Advisor]
[Tel: +64 4 917 6146 or (027) 337 1102]
[Email: [email protected]]
Last updated: 
Friday, 15 October 2010