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AUSTRALIA

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FUI

Arbuckle, G. A., 'Economic and Social Development in the Fiji Islands through Credit Unions', in Runcie, Neil (ed.), Credit Unions in the South Pacific• Australia, Fiji, New Zealand, Papua and New Guinea (London: University of London Press, 1969) pp. 90-108. Barnes, D. J., 'The Central Monetary Authority -a Personal Perspective', 348 Bibliography

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NEW ZEALAND

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Accident Compensation Commission, Australia and New Zealand Banking New Zealand, 218 Group, 28, 73, 174, 175, 224, 258, Accommodation bills, see Commercial 259 bills Australia and New Zealand Banking AFT Money Market Trust, 73 Group (PNG) Ltd, 259, 262, 276 Agricultural and Industrial Loans Board, Australian Associated Stock Exchanges, Fiji, see Fiji National Bank 79, 80, 151 Agricultural Bank of Queensland, 25, 28, Australian Bank, 12, 19, 72, 73 29-30 Australian Banks· Export Refinance Agricultural Bank of Tasmania, 25, 28, Corp., 24. 27-8 30-1 Australian dollar, 38, 85-7, 89, 155, 249, Agricultural Co-operative Credit 323, 325, 332 Association, Fiji, 139 Australian Federation of Credit Unions, Agricultural lending, 52 Australia, 17, 26, 28-9, 29-30, 30-1, Australian Guarantee Corp., 39, 40, 44, 58-61 143 Fiji, 104, 112, 118, 139-42, 143, 149 Australian Guarantee Corp. (Pacific) New Zealand, 164, 165, 171, 194, 197- Ltd, 276, 287, 288, 291, 292 200, 209, 212, 221 Australian Industry Development Corp., Papua New Guinea, 256, 269, 270, 277, 73-4, 299 278, 280, 281' 282, 283 Australian Liquid Assets Trust, 72, 73 Alivin Finance Ltd, 287 Australian Loan Council, 26 America, see United States Australian Mutual Provident Society, 69. American Express, 276 130, 205, 312 Anglo-Australian Corp., 31 Australian Options Market, 84 ANZ Bank, see Australia and New Australian Resources Development Zealand Banking Group Bank, 25, 27-8 Asian and Pacific Regional Credit Australian Savings Bonds, 46 Association, 284 Australian Shares and Deposit Asian currency/dollar market, 14, 155 Insurance, 47 Asian Development Bank, 118, 279, 329 Authorised money-market dealers, 6, 8, Asian Reinsurance Corp., 313 24, 54-8, 76-7 Associated Securities Ltd, 143, 287 development, 54-5 Associated Securities (New Guinea) Pty shareholders, 54-5 Ltd, 287 regulation, 55-6 Associated Trustee Banks of New sources of finance, 56-7 Zealand, 184 uses of funds, 57-8 Association of Superannuation Funds of see also Money market Australia, 72 Automatic teller machines, 47, 52 AUC (Anglo-Australian Corp.), 31 Auckland, 107, 162, 174, 233 BA Australia, 73 Australia, 1-93, 94, 96, 155, 160, 195, Bahrain, 38 206, 241, 245, 246, 247, 249, 253, Baillieu, Bowring, Marsh and 274, 278, 299 McLennan, 309 362 Index 363

Bain Dawes, Kila Bowrings, 309 Broken Hill Proprietary Co. Ltd (BHP), , 80 70, 84 Bank bills, see Commercial bills Building societies Bank of America, 261 Australia, 4, 46, 64, 74, 75, 79; Bank of Aotearo. 174 permanent, 46-50; development, Bank of China, I 0 46-7; regulation, 47 -8; sources of Bank of England, 256 finance, 48-9; uses of funds, 49- Bank of New South Wales 50; terminating, 46, 50-1 Australia, 9, 69 New Zealand, 164, 165, 167, 171, 187, Fiji, 107, 108 195, 202, 206-10, 238, 239; New Zealand, 174, 175 permanent, 206; terminating, 206 Papua New Guinea, 258, 259 Papua New Guinea, 293 see also Westpac Banking Corp. Burns Philp and Company, 257, 258 Bank of New Zealand Burns Philp (PNG) Ltd, 288, 300, 306 Australia, 12, 18-9 Fiji, 107, 108, 112 Cambridge Credit, 46 New Zealand, 165, 174-5, 224 Campbell, Sir Keith, 5 Bank of Papua New Guinea, 249, 250, Campbell Committee/Report, see 253-7,261,262, 263,266,269, 275, Committee of Inquiry into the 289, 295, 298, 312, 314, 315, 316, Australian Financial System 322-3, 325, 326, 329, 330 Campbell's Bank, see New South Wales development, 253-4 Savings Bank sources of funds, 254-5 Cane-Fanners' Co-operative Savings and assets, 255--{; Loan Association, 139-42 representation and staffing. 256-7 Cash management trusts, 38, 47, 72-3, Agricultural Export Development 75 Facility, 256, 264, 269 Central banking Discount Facility, 266 Australia, see Reserve Bank of Seasonal Export Financing Facility, Australia 256, 269 Fiji, see Central Monetary Authority Bank of Queensland, 12, 19 of Fiji, and Reserve Bank of Fiji Bank of South Pacific, 258, 259, 276 New Zealand, see Reserve Bank of Bank of Tokyo, 10 New Zealand Bankcard, 16, 17, 178, 238 Papua New Guinea, see Bank of Banque Indosuez, 261, 262 Papua New Guinea Banque Nationale de Paris, 12, 18 Central Monetary Authority of Fiji, 96, , 80 98, 100--{;, Ill, 112, 115, 117, 144, Bennetts Fanners Ltd, 28 146, 147, 150, 154, 155, 156, 158 Bergengren Credit Union, 132 basic functions, 100-1 Bergengren School of Credit Unions, 132 see also Reserve Bank of Fiji BHP, see Broken Hill Proprietary Co. Central Pacific Investment Ltd, 139 Ltd Certificates of deposit, 28, 56, 77 Bills of exchange, see Commercial bills see also Transferable certificates of Boroko, 272 deposit and Negotiable certificates Bougainville, 24 7, 318 of deposit Bougainville Copper Ltd, 247, 261, 295, Chan, Sir Julius, 249 298, 300, 306, 309, 314, 318 Christchurch, 233 Bougainville Development Corp., 320 Citibank, Fiji, 108 Brisbane, 19, 30 Citicorp Australia, 287 Britain, 4, 174, 249 Closer Economic Relations (CER), 241 British, I, 3, 61, 94, 96, 107, 160, 164, Colonial Bank of Issue, New Zealand, 246, 261 174 British -American Life Insurance, 130, Colonial Sugar Refining Company, see 135 CSR Ltd 364 Index

Colonial Mutual Life Assurance, Fiji, Commonwealth Development Corp., 25- 129, 135 6, 28, 134, 135, 138, 278 Commercial and General Acceptance, 40 Commonwealth Savings Bank, 20, 21, Commercial Bank of Australia, 9, 175 24, 25 see also Westpac Banking Corp. Commonwealth/State Home Builders Commercial Banking Co. of Sydney, 9 Fund, 51 see also National Australia Bank Commonwealth Trading Bank, 26, 28, Commercial banks 85, 261, 267, 284, 286, 321 Australia, 3, 4, 8, 8-19, 20, 22, 23, 25, Consumer credit/finance 26, 27, 28, 38, 39, 43, 44, 49, 50, Australia, 4, II, 12, 16, 17, 39, 45, 46, 56, 58, 59, 65, 75, 76, 77, 78, 79, 50, 51, 59, 75 86, 88, 89; development, 9-10; Fiji, 98, 143 regulation, 10-12; sources of New Zealand, 194, 202, 204 funds, 12-14; assets, 14-18; state Papua New Guinea, 268, 290 government banks, 12, 13, 18 Cook Islands, 160 Fiji, 96, 98, 101, 104, 106, 106-15, Coolman Finance Ltd, 287, 288 118, 121, 144, 154, 155, 156, 158; Coombs, H. C., 248 development, 106-8; sources of Cooper and Lybrand, 304 funds, 108-11; assets, 111-12; Co-operative Building Society of South representation and staffing, 112- Australia, 47 15 Co-operative housing societies, 51 New Zealand (trading banks), 164, Co-operatives, see also Credit unions and 165, 168, 169-70, 171, 188, 194, Building societies 195, 197, 200, 202, 225, 236, 237, Australia, 8, 28, 29, 46, 74, 75 238, 239, 240 Fiji, 98 Papua New Guinea, 248, 249, 250, New Zealand, 165, 202-5 254, 257-76, 282, 284, 286, 291, Papua New Guinea, 306, 317 296, 325, 326-8; development, Corporate bonds, Fiji, 146 257--62; regulation, 262-4; Corporate finance, sources of funds, 264-7; assets, Australia, 16-17, 36, 37, 39, 45 267-72; representation, 272-3; New Zealand, 232 staffing, 273-5; diversification, Papua New Guinea, 285 275--6 Crean, Frank, 46 Commercial bill market Credit Corp. (PNG) Ltd, 286, 287, 288, Australia, 36, 37, 56, 57, 73, 77, 78, 291, 292, 293 79, 85 Credit Guarantee Scheme, 268 New Zealand, 167, 175, 178, 188, 190, Credit unions 194, 197, 222, 224-5, 238, 239 Australia, 4, 46, 51-3, 74, 75; Papua New Guinea, 286 development, 51-2; regulation, Committee of Inquiry into the 52; sources of funds, 52-3; uses Australian Financial System of funds, 53 (Campbell Committee), 4-5, 9, 26, Fiji, 96, 98, 132, 156 29,40,48,49,50,51,52,53,67, 71, 72, New Zealand, 165, 187, 202, 203-5 74, 77, 78, 88 Papua New Guinea, 293, 295, see Committee on the Structure of the Savings and loan societies Financial System, 240 CSR Ltd, 84, 107 Commodities market/trading, 38, 59, C.T. Bowring and Burgess (Pacific) Ltd, 321, 324 125 Commodity stabilisation funds, Papua Custom Credit, 40, 143 New Guinea, 254, 288, 315-16 Customer Credit Corp. (Fiji) Ltd, 143 Commonwealth Bank of Australia, 6, 9, 20, 25, 253, 258 Dalgety Australia, 28 Commonwealth Banking Corp., 25, 258, Dalgety NZ Ltd, 197 259, 260, 326 Databank Ltd, 177 Index 365

Debit cards, see Visa card Fiji Electricity Authority, 98, 138, 150 Defence Forces Retirement Benefit Fiji Fire and Marine Insurance, 124 Board, 259, 313 Fiji National Bank, 117 Desai Bookshops, Fiji, 139 Fiji National Insurance, 124, 134-5 Development banks Fiji National Provident Fund, 96, 98, Australia, see Commonwealth 118, 119-22, 134, 136, 138, 144, 149 Development Bank Fiji, see Fiji Fiji Pine Commission, 138 Development Bank Fiji Reinsurance Corp., 129 New Zealand, see Development Fiji Sugar Corp., 98, 106, 138, 150 Finance Corp. Fijian Affairs Board, 139 Papua New Guinea, see Papua New Fijian dollar, 155 Guinea Development Bank Finance companies Development finance, 278, 299 Australia, 4, 8, 9, 39-46, 50, 58, 59, Development Finance Corp. of New 64, 65, 77, 78; development, 39- Zealand, 165, 187, 221-2 40; shareholders, 40-3; regulation, Dunedin, 233 43; sources of funds, 43-5; uses of funds, 45-6 Earthquake and War Damage Fiji, 143 Commission/Fund, 219 New Zealand, 165, 167, 171, 175, 187, Elder's Finance and Investment 190, 194-7, 206, 239 Company, 38, 59 Papua New Guinea, 249, 250, 264, Elders-IXL, 28, 58 275, 276, 286, 290, 323, 326, 328; Equipment Investment Ltd, 287, 288 development, 287 -9; regulation, Esanda, 44 289; assets, 289-91; source of Euro-currency/dollar market, 14, 27, 28, funds, 291-2; representations and 78, 155 staffing, 292-3 European Economic Community, 118 Financial Corporations Act, 6, 43, 47, Exchange control 51, 52, 55, 59, 88, 90 New Zealand, 170 Fire and general insurance, see General Papua New Guinea, 253, 254 insurance Export credit/finance Foreign banks Australia, 28 Australia, 9, 10, 17, 27, 44, 49, 73, 76, Fiji, 155 90, 91 New Zealand, 170, 171,222 Fiji, I 04, I 06 Papua New Guinea, 290 New Zealand, 165, 174-5 Exports Finance and Insurance Corp., 62 Papua New Guinea, 261, 262 Ex-Servicemen's Credit Board, 278, 279, Foreign currency futures, 38, 84, 85, 87 284 Foreign currency hedge market, Australia, 38, 73, 85, 86-7 Federation of Co-operative Unions Ltd, Foreign currency loans, 317 Australia, 37, 73, 90 Federation of Savings and Loan Fiji, 118 Societies, 292, 295, 298 Papua New Guinea, 286 FOB Nominees Ltd, 118 Foreign exchange/foreign exchange Fiji, 19, 94-159 dealing/market Fiji Banking and Commercial Co., 107 Australia, 6, 8, 11, 38, 85-7, 88, 89; Fiji Credit Union League, 132 spot, 86; forward, 86; licences, 88; Fiji Currency Board, I 00 see also foreign currency hedge Fiji Development Bank, 96, 98, 104, market 117-19, 128, 132, 146, 150 Fiji, 94, 95, 100, 154-5, 158 Bonds, 104, 118, 149, 150 New Zealand, 170, 178, 222, 236-8, Fiji Development Bond/Loans, see 240; spot, 237; forward, 237, 238 Government securities, Fiji Papua New Guinea, 255, 256, 313, Fiji Development Co., 134, 138-9 321, 325-6, 330 366 Index

Foreign exchange control, 323 Home Finance Co., 121, 134--6, 138, 143 Foreign investment, 38, 90, 170, 233, Hong Kong, 38, 90, 124 237, 247 Hongkong and Shanghai Banking Corp., Foreign ownership, 284-5, 286 Australia, 3 Hospital and medical benefits funds, 74- New Zealand, 165 5 Papua New Guinea, 299, 300, 318, Hotham Permanent Building Society, 47 326-7, 328 House Loan Guarantee Scheme, 269 Fox, Tom, 299 Housing Authority, Fiji, 121, 122, 136-8 Friendly societies Housing Corp. of New Zealand, 165, Australia, 74 187, 221 New Zealand, 187, 202-3, 204 Housing finance/loans, Australia, 4, 19, 39, 46, 47, 50, 51, 90 Fiji, 98, 134, 135-8, 141 Ganey, Father Marion, 132 New Zealand, 165, 167, 171, 185, 206, General Credits, 40 209, 210, 212, 221 General insurance companies Papua New Guinea, 269, 270-1, 290, Australia, 3, 8, 61-4, 65; development, 317 61-2; regulation, 62; sources of Housing Loan Insurance Corp., 62, 79 funds, 62-3; uses of funds, 63-4 Housing Transfer Scheme, Fiji, 121 Fiji, 96, 122-9, 132 New Zealand, 165, 210, 213-19 Independent Order of Odd Fellows, 202 Papua New Guinea, 309-12, 326 Indoniu Finance Co. Ltd, 288 German New Guinea Co., 257 lndosuez Niugini Bank, 261, 286, 288 Gold, 6, 8, II, 47, 85, 160, 248, 256, 315 Industrial Acceptances Corp. Ltd, 287 Goroka, 294 Industrial Acceptances Corp. (New Government Savings Bank, Fiji, see Guinea) Pty Ltd, 287, 288 National Bank of Fiji Inflation Government securities Australia, 3, 91 Australia, 6, 8, 17, 22, 24, 36, 56, 57, Fiji, 101 64, 67, 71, 77 New Zealand, 163, 164, 197, 239, 240 Fiji, 98, 101, 104, 105, 106, 112, 116, Papua New Guinea, 332 122, 128, 132, 134, 144-50, 151, Insurance Commissioner 156, 194 Australia, 62 New Zealand, 171, 175, 178, 186, 187, Fiji, 101 188, 197, 204, 205, 210, 211, 220, Insurance/insurance companies, 224, 225-32 Australia, 47, 51, 61, 62, 64, 74, 78 Papua New Guinea, 253, 256, 266, Fiji, 98, 101, 134, 136, 144, 156 270,286,304,321-3 New Zealand, 165, 178, 187, 195, 202, Government securities ratio, 167, 171, 210-19, 238, 239 188, 197 Papua New Guinea, 250, 295, 296, Government stock, see Government 300, 306, 323, 326 securities, 178 Insurance Council of New Zealand, 215 Government Superannuation Fund, New Interbank market, see Money market Zealand, 219 Interest rates, Grand Union Life, 312 Australia, II, 22, 49 Fiji, 101, 108, 112, 118, 158 New Zealand, 164, 167, 169, 171, 188, Hire purchase 194, 197, 200, 202, 209, 239, 240 Australia, 236 Papua New Guinea, 263, 264, 268, Fiji, 143 269, 272, 282, 290, 324, 329 New Zealand, 194, 204, 222 Intergroup financiers, 74, 75 Papua New Guinea, 277, 280, 282, International Commodities Clearing 287, 289, 290, 291 House, 85 Index 367

International Monetary Fund, 8, 106, Life Corporation of India, 135 256 Liquid Assets and Government Securities Invercargill, 206, 233 Convention, II, 12 Investment companies/management, Liquid assets ratio, Papua New Guinea, Australia. 36, 38. 64. 74; Papua 271 New Guinea, see Investment Lloyds Bank International, 261, 262 Corporation of Papua New Guinea Lloyds insurance, 309, 311 Investment Corporation of Papua New Loan syndications, 36, 37, 90, 285 Guinea, 249, 259, 287, 298-303, Local asset ratio (LAR), Fiji, 101, 104, 304, 306, 307, 309, 318, 323, 324, 112, 149, 150 326, 328 Lombard Insurance, 124 development, 299-300 London, 4, 19, 38, 61 sources of funds, 301-2 uses of funds, 302-3 representation and staffing, 303 Maddox Leape and Associates, 324 Investment Corporation Fund of Papua Management investment companies, 74, New Guinea, 300, 302, 303-9 75--6 development, 304 Manchester Unity, New Zealand, 202 sources of funds, 304-7 Martin Report, 40 uses of funds, 307-9 Melbourne, 4, 19, 89, 90 Merchant banks, Japan, 3, 4, 160 Australia, 4, 8, 17, 31-9, 55, 58, 59, 64, 65, 73, 77, 78, 85, 86, 87; Kaputin, John, 261, 318 development, 31; operations, 36- Kieta, 293 9; shareholders, 31--6 Kina, 249, 254, 255, 281, 323, 325, 329, Fiji, 143 330 New Zealand, 165, 175, 187, 188, 190, Kluk, Henry, 327 232 Kuana Savings and Loan Society Ltd, Papua New Guinea, 299, see 294 Resources and Investment Kwila Insurance, 310, 312, 313 Finance Mineral Stabilisation Fund, Papua New Labasa, 141 Guinea, 254, 314-15 Lae, 257, 272, 293, 294, 323 Minister/Ministry of Finance, Lautoka, 141 Australia, see Treasurer Lease finance; leasing Fiji, 128, 132, 143, 158 Australia, 16, 37, 45, 73 New Zealand, 164, 169, 171, 187, 219, New Zealand, 197 236, 238, 261 Papua New Guinea, 268, 277, 282, Papua New Guinea, 278, 304, 306, 291, 302 318, 329 Levuka, 107 Money lenders, see Private money LGS Convention, see Liquid Assets and lenders Government Securities Convention Money market, Life Insurance Commissioner Australia, I, 36, 49, 64, 73, 75, 76-9, Australia, 66, 70 87, 323; interbank, 76; official, Fiji, 130 54--6, 76-9; general Life insurance companies/offices deposit/unofficial, 77 -8; Australia, 64-9; development, 64-5; intercompany, 36, 39, 77, 78-9; regulation, 66-7; sources of mortgage, 79 funds, 67 -9; uses of funds, 69 Fiji, 106, 144-50, 154, 156 Fiji, 96, 128, 129-32 interbank, 144, 146; Treasury bill, NewZealand,l65,171,202,210-13,217 146-8; other government Papua New Guinea, 249, 310, 312-13. securities, 149-50; promissory 326 notes, 150 368 Index

New Zealand, 167, 222-32; short National Economic Summit, Australia, term; 187-8, 222; interbank, 222, 3, 91 224; official, 165, 167, 170, 171, National Housing Commission, Papua 187, 188, 239; unofficial, 167, 187, New Guinea, 271,317 188-94; commercial bill, 167, 222; National Insurance Company of Fiji, 124 government securities, 224, 231; National Insurance Company of New intercompany, 188, 190; Zealand, 205 mortgage, 200-2 National Investment and Development Papua New Guinea, 266, 286, 304, Authority, 299, 318 320-4; inter-bank, 267, 321; National Investors Scheme, Papua New dealers, 249; government security Guinea. 269, 270 dealers;market, 286, 321-3; inter• National Mutual Life, 130 company, 290, 321, 323 National provident fund, Money market corporations, see Fiji, see Fiji National Provident Fund Merchant banks New Zealand, 219 Monetary policy Papua New Guinea, 314, 326, 328 Australia, 4, 6, 9, 11 National Superannuation Committee of Fiji, 101, 157 Inquiry, 70 New Zealand, 167, 168, 169, 170, 171, Native Land Development Corporation, 224, 231, 238, 239, 240, 241 136, 138-9 Papua New Guinea, 253, 262, 263, Native Land Trust Board, 138, 139 316, 329-30 Native Loans Board, 278, 279, 284 Money supply Negotiable certificates of deposits Australia, 89 Australia, 27, 73 Fiji, 106 New Zealand, 188 New Zealand, 165, 167, 175,231 Network Finance, 45 Papua New Guinea, 249, 250, 251, New Guinea Finance Ltd, 287 252, 264, 329-30 New Guinea Island Development Corp., Monidata Pty Ltd, 276 318 Mortgages;mortgage finance New Hebrides, 313 Australia, 16, 25, 26, 36. 39, 46, 49, New South Wales, 18, 20, 49, 50, 51, 53, 61, 62, 64, 69, 79 80, 89 Fiji, 134, 135, 137, 141, 143 New South Wales Savings Bank New Zealand, 165, 167, 186, 187, 200- (Campbell's Bank), 20 2, 203, 204, 205, 206, 209, 210, New York, 38 213, 22~ 221, 23~ 282, 290 New Zealand, 19, 90, 94, 96, 107, 155, Papua New Guinea, 290, 317 160-244, 245 Motor Vehicle Trust, 306, 310-11 New Zealand Bankers' Association, 175 Mount Hagen. 257, 272, 294 New Zealand Banking Co., 174 New Zealand Co., 174 Nambawan Finance Ltd, 276, 288, 290, New Zealand Credit Union League, 203 291 New Zealand dollar, 155 National Australia Bank New Zealand Finance Houses Australia, 9, 14, 28 Association, 194 Fiji, 143, 144 New Zealand Guardian Trust Ltd, 205 Papua New Guinea, 258, 259 New Zealand Insurance, 124, 313 National Australia Savings Bank, 24 New Zealand Stock Exchange, 175, 222, National Bank of Australasia. see 232-6 National Australia Bank New Zealand South British Insurance, National Bank of Fiji, I 04, I 06, I 08, 124, 205 112,115,115-17,143,158 Newcastle. 80, 107 National Bank of New Zealand, 175, 224 Niue, 160 National Companies and Securities Niugini Insurance Corp., 309-10, 312. Commission, 82 313, 328 Index 369

Niugini-Lloyds International Bank, 261, Personal loans, see consumer finance 286, 324 Building Society, 47 Non-life insurance, see General insurance Petone, 174 Polynesia Company, Fiji, 106, 107 Official money market dealers, see Port Moresby, 253, 257, 258, 261, 262, Authorised money-market dealers 272, 274, 286, 293, 294, 302, 303, Ok Tedi, 248, 314, 330 321, 323 Open market operations, Fiji, 101, 158 Post Office Savings Bank Oriental Banking Corp., 174 Australia, 20 Otago Banking Co., 174 Fiji, see National Bank of Fiji Overseas borrowings New Zealand, 167, 184, 185-7 New Zealand, 169 Primary Industries Bank of Australia, Papua New Guinea, 248, 318, 330 25, 28-9, 30 Overseas Investment Commission, 233 Private money lenders Fiji, 141, 143 Pacific Island Mortgage Fund, Fiji, New Zealand, 200 138 Promissory notes Pacific Lumber Co., 138 Australia, 36, 44, 56, 77, 78, 79 Papua New Guinea, 19, 245-339 Fiji, 105, 106, 144, 146, 149, 150, 156 Papua New Guinea Bankers' College, New Zealand, 178 274 Papua New Guinea, 323 Papua New Guinea Banking Provincial development corporations, Corporation, 257, 260, 261, 266, 250, 318-20, 327, 328, 332 267, 269, 273, 274, 275, 276, 285, PSA Savings and Loan Society Ltd, 295 287, 288, 295, 299, 326, 327 Public Officers' Superannuation Papua New Guinea Credit Pty Ltd, 287 Board/Fund, 259, 314 Papua New Guinea Development Bank, Public Service Association, 259 249, 250, 259, 260, 277-84, 287, 291, Public Service Association Savings and 299, 303, 306, 318, 326, 328, 329 Loan Society, 259 development, 278 Public Service Investment Society, New sources of finance, 279-80 Zealand, 204-5 uses of funds, 280-4 Public Trustee Office, New Zealand, 187, representation and staffing, 284 205, 217 Papua New Guinea Retirement Benefit Pyne Gould Guiness Ltd, 197, 205 Fund, 313 Pyne Gould Guiness Trust Department, Pastoral finance companies/houses, 3, 26, 205 28, 58-61, 85; development, 58-9; 59; sources of funds, 59; regulation, QBE Insurance, 313 uses of funds, 60-1; see also Stock Queensland, 19, 20, 29, 30, 80 and station agents Queensland Insurance, Fiji, 124 Pension and superannuation funds, Queensland Permanent Building Society, Australia, 38, 47, 50-I, 64, 67, 68, 47 69-72 Fiji, see Fiji National Provident Fund New Zealand, 165, 171, 187, 188,200, Rabaul, 257, 258, 272, 293, 294, 318 213, 219-20, 239 Rea Report, 80 Papua New Guinea, 250, 313-14 Reed Stenhouse Ltd, 125 see also National Provident Fund Reed Stenhouse (PNG) Ltd, 309 Permanent building societies see Building Registrar of Building Societies, 209 societies Registrar of Co-operative Societies, Fiji, Permanent Building Societies Association 139 of New Zealand, 209 Registrar of Friendly Societies, 204 Perpetual Trustees Estate and Agency Registry of Savings and Loan Societies, Company of New Zealand, 205 153, 294, 295 370 Index

Reinsurance Sedgwick (Fiji) Ltd, 125 Fiji, 96, 129 Semi-government securities, Papua New Guinea, 313 Australia, 58, 64, 67, 77 Reserve asset ratio requirements, New Fiji, 101, 104, 105, 112, 116, 128, 132, Zealand, 165, 171 144, 149, 150, 151, 156 Reserve Bank of Australia, 4, 6-8, 10, II, New Zealand, 188, 205 12, 14, 18, 19, 21, 22, 23, 24, 25, 26, 27, Sharebrokers, see Stock brokers 54,55,56,57,69, 70,74,77,85,86,88, Short term money market, see Money 89, 249, 253, 256, 258, 259, 293, market 326 Sideia, 294 open market operations, 4, 8 Sideia Savings and Loan Society Ltd, Rural Credit Department, 6, 8, 249, 294 253 Singapore, 90 Notes Issue Dept, 7 Small business finance, Reserve Bank of Fiji, 101, 157, 158 Australia, 26 Reserve Bank of New Zealand, 164, 165, Fiji, 118 167, 170-1, 187, 188, 194, 224, 225, New Zealand, 222 231, 236, 237, 238, 240, 256 Papua New Guinea, 277 Resources and Investment Finance Ltd, Solomon Islands, 313 250, 284-{i, 291, 303, 323, 324, 327 Somare, Michael, 328, 332 Retailers, 74, 75 South Australia, I, 2, 18, 47, 76 Review Committee of New Zealand South Australian Enterprise Fund, 76 Finance Statistics, 205 Southern Insurance Company of Ross Dependency, 160 Victoria, 124 Rothschild, N. M. & Sons, 256 SPARTECA Scheme, 155 Rural and Industries Bank of Western State Advances Corporation, 221 Australia, 18, 27, 28 State Bank of New South Wales, 18, 27, Rural Banking and Finance Corporation 28 of New Zealand, 165, 187, 221 State Bank of South Australia, 18, 28 State Bank of Victoria, 20, 29 Statutory body securities, see Semi- Samarai, 258 government securities Savings and loan societies, 249, 250, 253, Statutory reserve deposits (SRDs) 287,288,291,293-8, 306, 317, 326, Australia, 8, II, 12, 18 328 Fiji, 101, 104, 112, 115 development, 293-5 Steamships trading, 309 sources of funds, 296 Stock and station agents, New Zealand, uses of funds, 296-8 165, 171, 187, 197-200 representation and staffing, 298 Stockbrokers Savings Bank of Tasmania, 28 Australia, 38 Savings banks Fiji, 151 Australia, 3, 4, 8, II, 19-25, 28, 46, New Zealand, 187, 232 49, 79; development, 20; Papua New Guinea, 249 regulation, 21-2; sources of Stock exchange funds, 22-3; uses of funds, 23-4; Australia, 79-83 representation, 24-5; state Fiji, see Suva Stock Exchange government banks, 20-2 New Zealand, see New Zealand Stock Fiji, 108, 114, 115 Exchange New Zealand, 165, 170, 171, 175, 184- Papua New Guinea, 309 7, 194, 202, 206, 209, 238, 239 Stock Exchange Association of New Papua New Guinea, 258, 259 Zealand, 233 Savings clubs, see Savings and loan Stock Exchange of Melbourne, 80 societies Stock market, see Stock exchange Schroder Darling, 73 Sugar Cane Price Support Fund, Fiji, Securities industry, see Stock exchange 134, 135, 143 Index 371

Superannuation Fund Investment Trust, Fiji, 98, 101, 118, 233 70 New Zealand, 233 Superannuation funds, see Pension and Papua New Guinea, 277, 286 superannuation funds Union Bank of Australia Suva, 151 Fiji, 107 Suva Stock Exchange, 118, 150-4 New Zealand, 174 Sydney, 4, 19, 61, 89, 90, 94, 323 Papua New Guinea, 258 Sydney Futures Exchange, 78, 84-5, 87 Unit Trust of Fiji, 96, 118, 133-4, 143, Sydney Stock Exchange, 80 154 Unit Trust of Fiji (Management) Ltd, 134 T & G Insurance, 312 Unit Trust of Fiji (Trustee) Ltd, 134 Tasmania, 20, 30 Unit trusts, Tasmanian Development Authority, 30 Australia, 8, 47, 74, 75 Term deposits Fiji, see Unit Trust of Fiji Australia, 49 New Zealand, 233 Fiji, 109, Ill, 115 Papua New Guinea, 300 see New Zealand, 175, 177 Investment Corporation Fund of Papua New Guinea, 264, 265, 266 Papua New Guinea Term loans United Insurance, 124 Australia, 37, 73 United Nations, 246 Fiji, 118 United States, I, 3, 4, 19, 27, 237 New Zealand, 178, 222 United States dollars, 325 Papua New Guinea, 268, 277, 280 Unofficial money-market dealers, 187 Terminating building societies, see Utrecht, Ernst, 299 Building societies Thomas Cook and Co., 236 Vanua Levu, 94 Thomas Cook Financial Services Ltd, Vanuatu, 19, 313 154 Venture capital companies, 74, 76 Tokelau, 160 Victoria, 20, 47, 49, 80, 89 Trade bills, see Commercial bills Trading banks, see Commercial banks Village Economic Development Fund, 269, 278, 282 Transferable certificates of deposit Visa card, 47, 50, 178 Australia, 25, 27, 28 Viti Levu, 94 New Zealand, 175, 177, 188, 190, 194, 238 Wardley Ltd, 286 Treasurer/Treasury, Australia, 4, 61 Wellington, 174, 233 Treasury securities, see Government , I, 18, 20, 47, 50, 80, securities 90 Trustee companies, Western Mining, 84 New Zealand, 187, 205 Westpac Bank-PNG Ltd, 259,263,276, Papua New Guinea, 249 328 Trustee Companies Association of New Westpac Banking Corp., 9, 19, 29, 40, Zealand, 205 69, 107, 112, 114, 135, 174, 175,224, Trustee savings banks 258, 273, 287 Australia, 20 Bank of New South Wales New Zealand, 164, 165, 184-7, 202 see also and Commercial Bank of Trustees, Executors, and Agency Australia Company of New Zealand Ltd, 205 Westpac Banking Corporation Savings Bank, 24 Underwriting Westralian Farmers Co-operative Ltd, 29 Australia, 37, 58, 61, 62, 63, 73, 77, World Bank, 118, 247, 258, 278, 279, 329 78,86 Wrightson NMA Ltd, 197