'Moral-hazard madness' or just bringing NZ into line?

Finance minister Grant Robertson will gain additional powers to make regulations.

Fri, 23 Apr 2021

The Act party is thundering that the government's introduction of a deposit insurance scheme will cause banks and other financial institutions to run amok in taking unnecessary risks and thereby putting the financial system at risk.It's "the kind of moral-hazard madness that led to the GFC (global financial crisis)," said Act leader David Seymour. "This is the socialisation of banking."'But the government expects the Reserve Bank's (RBNZ) regulatory policy and supervisory approach will mitigate any moral haza...

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