BNZ censured over capital failings
The Reserve Bank will increase its supervision of BNZ after capital modelling errors were found.
The Reserve Bank said BNZ identified errors "during a process of remediation" which began in early 2018 and will continue through 2020. BNZ made three capital calculation errors, which resulted in "misreported risk-weighted assets over a number of years".
The RBNZ said it had "increased its supervisory monitoring" of BNZ and applied "precautionary adjustments...MORE»
Mortgage rates may be at cycle low: ASBMonday, November 18th, 4:33PM
It is "quite possible" fixed rate mortgages have hit their lowest point in this cycle, according to economists at ASB. MORE» |
Kiwibank slashes one-year mortgage to new lowFriday, November 15th, 6:36PM
Kiwibank has cut its one-year fixed term to 3.39%, a new low, despite the OCR remaining on hold. MORE» |
Dealer groups warn of rising costs under new regime
Dealer groups say the cost of membership is likely to rise under the new regulatory regime, with estimates ranging from $3,000 to $21,000 extra per year.
MORE»Westpac plans turnaround time overhaul
Westpac has introduced a new mortgage approval system to cut turnaround times, sending loan applications to local branches for completion.
MORE»Awesome end to TMM Better Business conference
Here's a little video of the final session of the TMM Better Business conference.
MORE»Wholesale interest rates rise after OCR decision
Wholesale interest rates have jumped after the official cash rate was kept on hold, sparking fears of rising mortgage rates.
MORE»OCR reaction: economists surprised but expect 2020 cut
Economists were surprised by the Reserve Bank's decision to keep the official cash rate on hold, but expect the central bank to ease rates next year.
MORE»