Page 163 - Week 01 - Tuesday, 12 February 1991
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Liquidity
Queensland - 15 per cent of withdrawable funds.
Western Australia - 12.5 per cent of withdrawable funds.
Other States and Territories - 10 per cent of withdrawable funds.
Minimum asset/loan ratios
Queensland - all advances directly or indirectly for accommodation for residential purposes.
New South Wales - 50 per cent of assets secured by loans over residential property, 50 per cent of loans in any financial year to be secured over owner-occupier residential property.
Victoria and Tasmania - 50 per cent of assets secured by loans over residential property.
Northern Territory - as authorised by rules of society.
South Australia - 85 per cent of mortgage loans must be for residential purpose.
Western Australia - no similar type of requirement.
Credit Unions
Liquidity
All States and Territories have similar requirements with the exception of Tasmania which has no requirement. The rates-are as follow:
Western Australia, ACT and Northern Territory -
- 10 per cent.
NSW, Victoria and South Australia - 7 per cent.
Queensland - 7.5 per cent.
Statutory Reserve Fund
With the exception of Tasmania all States and Territories require deposit taking co-operatives to create a reserve fund from a surplus in a prescribed financial period.
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