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    Basically, the NZ OBR requires that;-
    -the investors in a bank stand to lose when said bank fails
    -a conservative proportion of the money held in accounts at the bank are frozen and may be used to settle the bank's liabilities
    -no portion of the money on deposit is guaranteed by the State except that portion that is initially not frozen and any further account money that is later unfrozen. (There is a link within the Q&A to the statement from the Government as to why deposit insurance is not to be introduced.)

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