Unexpected Outcomes of the Financial Institutions Act
AbstractThe Financial Institutions Act of 1992 provided a new legislative and regulatory framework for non-bank deposit-taking financial institutions (NBFIs), Building Societies and Credit Unions. The expectation of the Act was that the NBFIs would cater to the household sector of the economy and that the two types of NBFI would retain different balance sheet structures. However, the new regulation regime caused credit unions to change their lending policy to emphasis mortgage, rather than personal loans, and thus comerge to similar structure to building societies.
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Bibliographic InfoPaper provided by School of Economics, University of Queensland, Australia in its series Discussion Papers Series with number 333.
Date of creation: 2004
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