CBS Canterbury, the NZAX-listed building society, said it has applied to be part of the extended Crown Retail Deposit Guarantee.CBS Canterbury is covered by the existing guarantee until October 12. The extended guarantee will cover retail depositors up to
CBS Canterbury, the NZAX-listed building society, said it has applied to be part of the extended Crown Retail Deposit Guarantee.
CBS Canterbury is covered by the existing guarantee until October 12. The extended guarantee will cover retail depositors up to $250,000 until December 31, 2011. The maximum under the current scheme is $1 million per depositor per institution.
So far the Treasury has approved Marac Finance Ltd, Equitable Mortgages Ltd, PGG Wrightson Finance and South Canterbury Finance for the extended scheme.
CBS Canterbury said it is in talks to put in place a longer term wholesale funding facility, which would be more flexible than an existing undrawn standby facility.
