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ANZ to launch new fixed interest service

The ANZ is about to launch a fixed interest service for advisers similar to one that has been run by Westpac Institutional Bank for several years.

Thursday, January 19th 2006, 6:38AM

by Philip Macalister

As part of its establishment ANZ has headhunted the person who has been running the WIB service Michael Warrington.

The managing director of ANZ’s institutional bank, Nigel Williams, says the move into this area is a “natural extension” of what the bank has been doing in the wholesale area.

Like Westpac the service is a wholesale shop where advisers can buy and sell listed debt securities. It is targeted at advisers, some private banks and brokers.

Williams hopes the service will help improve the efficiency and pricing in this market. He says currently there isn’t sufficient liquidity in this market and “retail bonds aren’t being priced to the credit curve.”

“Some bonds are over-priced.”

For instance a single B-rated bond is being priced at as either an A or AA-rated bond.

Williams says the service may also get into some product manufacturing as it already has experience in this area, such as the GEMS Securities which were put together for Forsyth Barr.

The service is separate to the joint venture ANZ has with ING in the funds management area.

« Infrastructure bonds on their waySovereign takes regulation bull by the horns »

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Lender Flt 1yr 2yr 3yr
AIA 4.55 ▼2.29 ▼2.59 ▼2.65
ANZ 4.44 2.89 3.25 3.39
ANZ Special - 2.29 2.69 2.79
ASB Bank 4.45 2.29 2.59 2.65
Bluestone 3.49 3.34 2.99 3.34
BNZ - Classic - 2.29 2.59 2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 2.89 3.19 3.39
BNZ - TotalMoney 4.55 - - -
CFML Loans 4.95 - - -
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China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 2.95 3.45 -
Heartland Bank - Online 2.50 1.99 2.35 2.45
Heretaunga Building Society 4.99 3.50 3.40 -
HSBC Premier 4.49 2.25 2.35 2.65
HSBC Premier LVR > 80% - - - -
HSBC Special - 1.99 - -
Lender Flt 1yr 2yr 3yr
ICBC 3.69 2.25 2.35 2.65
Kainga Ora 4.43 2.79 3.04 3.13
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 3.40 3.20 3.50 3.50
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.35 2.65 2.65
Liberty 5.69 - - -
Nelson Building Society 4.95 3.20 3.24 -
Pepper Essential 4.79 - - -
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SBS Bank Special - 2.29 2.29 2.65
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The Co-operative Bank - First Home Special - 2.09 - -
The Co-operative Bank - Owner Occ 4.40 2.29 2.59 2.79
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TSB Special 4.54 2.29 2.49 2.65
Wairarapa Building Society 4.99 3.55 3.49 -
Westpac 4.59 3.09 3.29 3.39
Westpac - Offset 4.59 - - -
Westpac Special - 2.29 2.69 2.79
Median 4.55 2.79 2.99 2.80

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