Minnow lender Asset Finance rapped by RBNZ over related party lending

Tue, 21 May 2013

By Paul McBeth May 22 (BusinessDesk) - Asset Finance, the minnow lender which was temporarily stopped from seeking new investment last year over the representation of a related party loan, has been rapped over the knuckles by the Reserve Bank for breaching the cap on related party lending. The central bank issued a warning to Whakatane-based Asset Finance for exceeding the 15 percent limit on related party loans that non-bank deposit takers can make as a proportion of total credit exposures, according to a statement on the Reserve Bank websi...

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