The New Zealand financial system is dominated by the banking sector. Banks in New Zealand are members of the New Zealand Financial Markets Association and thus have an impact on the 90-day bank bill benchmark rate. Banks provide KiwiSaver accounts, facilitate access to KiwiBonds, are the largest lenders in New Zealand and provide savings and term deposit accounts. Banks are clearly important to the financial markets and financial systems of New Zealand. Yet there have been times in the recent past where banks have had to have financial and legislative support from the New Zealand government. Prepare a briefing paper for a government minister on the background of the most recent government guarantee support schemes. The paper should contain the following information: (a) A discussion on why the Crown Retail Deposit Guarantee Scheme was introduced, including the economic background at the time. (3 marks) (b) An explanation of the operational differences between the Crown Retail Deposit Guarantee Scheme and the Wholesale Funding Guarantee Facility that the government announced on 1 November 2008. (3 marks) (c) Reasons as to why both the schemes were ended, using the strengths or weakness of the economic conditions of New Zealand at the time as the basis of your explanation. (3 marks) (d) An explanation of the purpose and the projected benefits of the Business Finance Guarantee scheme. (3 marks) (e) An explanation of what the primary role of government intervention is in financial markets. Describe what monetary policy levers governments traditionally use during times of uncertainty and volatility in financial markets. (3 marks) You may use diagrams and bullet points.