| 29.10.2008 - Australia: Mortgage funds should become banks if they want guarantees |
| From Nbr.co.nz: Australian Prime Minister Kevin Rudd has suggested that if mortgage funds want a guarantee on investor deposits, they should apply for banking licences. But Mr Rudd remains firm on excluding “market-linked products” in general. Deposit guarantees are a hot topic for mortgage fund managers across the Tasman, where around $A24 billion of investments in Australian mortgage funds have been frozen to stop investors withdrawing their money..... Full Article: Source |