tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Monday, December 9th, 11:15AM

Investments

rss
Latest Headlines

Rates Round Up

Reserve Bank starts thinking about post-guarantee world; Irongate gets backing from Bluestone; Europe's sovereign debt scares investors away from fixed interest; Fitch affirms SBS Bank's credit rating on merger proposal.  

Sunday, July 4th 2010, 9:17PM

 

Reserve Bank starts thinking about post-guarantee world

The Reserve Bank is starting to think about how the financial landscape will look once the government's retail deposit guarantee is phased out at the end of next year.

Though nothing has been decided on yet, the regulator is working with the Treasury to determine if any "high-level features of post-deposit guarantee regulatory features" are necessary, according to its Statement of Intent. The Reserve Bank monitors the government's exposure in relation to the scheme.

Irongate gets backing from Bluestone Group
Irongate Property has agreed binding terms with a consortium led by Bluestone Group. The consortium is to provide $45 million in new funding, which will allow Irongate to repay in full its Series 1 and 2 Bonds, scheduled to mature on 15 July 2010. Irongate has also agreed indicative terms with the consortium for additional funding which will assist the company reposition its property investment business and enhance its property portfolio.

The Bluestone Group, which was established in 2000, is a commercial lender and asset manager. It operates from offices in Australia, New Zealand and the UK and manages a portfolio of $1.5 billion in mortgages and commercial loans.

Europe's sovereign debt scares investors away from fixed interest
The sovereign debt crisis in Europe has made local investment managers nervous about parking their cash in fixed interest.

Seven managers who responded to Russell Investment survey said local and international bonds are out of favour due to the turmoil in Europe, reflecting the findings of similar surveys across the Tasman and in the U.S.

New Zealand equities are at fair value, though recent declines have offered buying opportunities, the respondents said.

Fitch affirms SBS Bank's credit rating on merger proposal
Fitch Ratings has affirmed the BBB- credit rating for registered bank South Building Society over its proposed merger with Hastings Building Society. The rating agency expects a merger would deliver a "larger and more diversified financial institution" with the benefits for HBS greater than those for SBS.

HBS members will vote on the proposal in September and needs 75% support to get over the line.

 

« No prior ranking creditors ahead of St Laurence investorsMarac merger with building societies could go ahead this year »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Today's Best Bank Rates
Rabobank 5.25  
Based on a $50,000 deposit
More Rates »
News Bites
Latest Comments
Subscribe Now

Deposit Rates newsletter

Previous News

MORE NEWS»

Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com