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Banks may have profited by $2b on customer call accounts through RBNZ using settlement accounts for its LSAP programme, consultant tells Commerce Commission
RBNZ mulls giving non-bank deposit takers access to settlement accounts so they don't have to go through the big banks who get the financial benefit
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The state-owned bank continues to enjoy relatively cheap RBNZ funding.
The Indian government has set the Fair and Remunerative Price (FRP) for sugarcane at 315 rupees per quintal, with more than a 100% margin, meaning farmers will receive high returns. The FRP functions as a benchmark below which sugarcane cannot be bought by sugar factories; it reduces farmers' payments and ensures competitiveness in the sugar industry.
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Treasury and Inland Revenue warned of 'unintended consequences'.