Public Trust gets govt guarantee on interest
Public Trust says the government guarantee it has on term and on-call account deposits has been extended to include interest.
Tuesday, April 7th 2009, 6:44AM
It says that previously principal on term deposits and on-call accounts invested in the Public Trust Common Fund has been guaranteed by the Government.
Now, the interest on Public Trust Term Deposits and On-call accounts is also guaranteed by the government, effective until 12 October 2010. Both the capital and interest guarantees are unsecured.
Under the Crown Guarantee Deposit Scheme, deposits with certain financial institutions are also guaranteed by the Government. However, the guarantee of principal and interest of those deposits is effective until 12 October 2010.
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