The Reserve Bank of New Zealand wants a quick decision on any possible replacement to the extended guarantee scheme when it expires, so stakeholders know what to expect."It is important for everyone involved in the financial markets (depositors, borrowers, institutions and equity-holders) that the policy stance regarding the existence and nature of any scheme that may operate after the extended scheme finishes is known shortly," said the RBNZ."[This is a] major outstanding policy decision in relation to NBDTs and banks." The government's retail deposit guarantee scheme ended on October 11, and the extended retail guarantee scheme which started on October 12 will end on December 31, 2011. Only seven institutions have joined the scheme.While the scheme, and any replacement, is not the RBNZ's direct responsibility, it plays a role in advising the Ministry and the Treasury.The decision to extend the first retail deposit guarantee scheme was made in August 2009; more than a year before it was due to expire, on October 11, 2010.Separately, the RBNZ said it sees more consolidation happening with the expiry of the first retail deposit guarantee scheme. The two major consolidation announcements during the term of the retail guarantee scheme were the merger of Marac Finance with Canterbury Building Society and Southern Cross Building Society, and the merger of Hasting Building Society with SBS Bank.