Treasury pushed for greater lending powers to be moved to Finance Minister
26 Apr, 2021 04:00 AM
3 minutes to read
New legislation will give the Minister of Finance more power over restricting who banks can lend to, however Treasury wanted a greater shift to the Beehive. Photo / Mark Mitchell
New legislation will give the Minister of Finance more power over restricting who banks can lend to, however Treasury wanted a greater shift to the Beehive. Photo / Mark Mitchell
Treasury wanted more powers over bank lending restrictions to move from the Reserve Bank to the Government, despite acknowledging the risk that electoral concerns may influence financial stability decisions.