MTF is a co-operative of over 650 nationwide finance outlets providing three types of loans - credit contract, finance lease and operating lease.

The co-operative has been a market leader in vehicle finance since 1971.

In a statement, MTF announced that: "In order to meet future capital requirements, resulting from the impending supervision of finance companies by the Reserve Bank and changes to International Reporting Standards (IFRS), the board of Motor trade Finances Limited (MTF) will be putting a restructuiring proposal to its co-operative shareholders."

"Co-operative capital, because of its redeemable nature, does not meet the test for equity under IFRS and may not meet Reserve Bank requirements."

MTF
http://www.mtf.co.nz