For example, the demise of our former government bank, PNG Banking Corporation (PNGBC) and three of our superannuation funds namely, Defence Force Retirement Benefit Fund and former Public Officers Superannuation Fund (POSF) and National Provident Fund (NPF) were involved in bad management or questionable investments that resulted in three separate Commission of Inquiries.
These views are my own and do not necessarily reflect those of the Federal Reserve Board or the Federal Open Market Committee. 2 Reflecting these trends, consumer confidence declined in the Michigan and Conference Board surveys in August. For more information on the University of Michigan Survey of Consumers, see https://data.sca.isr.umich.edu/survey-info.php. For more information on the Conference Board Consumer Confidence Survey, see https://conference-board.org/data/consumerconfidence.cfm.