Articles tagged with 'banks'
Open finance momentum expected to gather pace in 2025
20 January 2025 - New regulations dictating how open finance works for the banking sector could be in place by the end of the year with advisers encouraged to start thinking about how developments could change the way they do business.
Bank of mum and dad alive and well; Danger OCR might need to be hiked in 2026
5 December 2024 - Nearly one in three parents of children wanting to buy their first home can afford to help them with their mortgages. [READ ON] Potential mortgage borrowers...
Bank of mum and dad alive and well
5 December 2024 - Nearly one in three parents of children wanting to buy their first home can afford to help them with their mortgages.
Banking inquiry reference terms laid out
16 August 2024 - The government’s banking competition inquiry will explore whether Reserve Bank capital requirements on banks are unnecessarily increasing borrowing costs and discouraging newcomers.
Misconception about banks willingness to lend wrong
17 July 2024 - The impression banks are being tough on mortgage lending and have not loosened their criteria is a misconception, says mortgage adviser Kris Pedersen.
Which bank is winning the lending race?
4 June 2024 - Jenny Ruth digs into the latest Reserve Bank data to find how which banks are writing the most home loans.
Difference in scores a reflection of banking study
7 May 2024 - The big gap in satisfaction scores between first place and the rest of the pack in Consumer NZ’s latest survey of the worst and best banks, reflects the findings of the Commerce Commission’s banking draft market study, Consumer NZ says.
Specious arguments from big banks need to be taken down - Habilis
26 October 2023 - The Commerce Commission has been urged to come up with an agreed model for how the New Zealand banking sector operates for its banking competition study.
Banking study submissions highlight adviser issues
21 September 2023 - Mortgage completion rates are being used as a tool by banks to monitor the loyalty, effectiveness and servicing need for their adviser channel.
Heartland says big banks use scale to block competition
19 September 2023 - Heartland Bank is arguing that it is challenging for the smaller banks to offer retail products because the major banks use their scale as a kind of barrier to entry.
National could expand bank market study
8 September 2023 - National won’t scrap the Commerce Commission’s market study into banking competitiveness and would wait for the final report before a possible further probe.
Bank competition study on services, prices and profits
11 August 2023 - The Commerce Commission’s focus in its study into bank competition will be personal banking and mortgage lending.
Culture and conduct not part of bank competition study
24 June 2023 - Finance Minister Grant Robertson wants to make it clear the Commerce Commission banking study is not about bank conduct and culture.
Commerce Commission banking study is not about bank conduct and culture
22 June 2023 - Finance Minister Grant Robertson wants to make it clear that culture and conduct is not part of the bank competition study. [READ ON] ...
Competitiveness of banks under the spotlight
20 June 2023 - The Commerce Commission is to investigate the competitiveness of the banking sector.
Challenger bank to leave NZ
15 June 2023 - One bank which regularly offered the lowest home loan rates in New Zealand is shutting up shop. [Details Here] In rates news BNZ has followed ANZ in rising...
Some banks will be ready for open banking before May 2024
14 June 2023 - May next year is the deadline for the four major banks to be ready to implement open banking but they may be ready before that, says Payments NZ chief executive Steve Wiggins.
ComCom study mulled as trust in banks wanes
12 May 2023 - Trust in banks diving sharply amid soaring profit announcements.
Bank profits level out – mortgage arrears rise
20 April 2023 - Debt servicing is taking nearly 22% of an average household’s budget once their mortgage is rolled over to a higher rate.
National calls for banking enquiry; Banks think it's a good idea
9 March 2023 - The National Party wants Parliament's Finance and Expenditure Select Committee to hold an enquiry into the banking industry.
The FMA's plans for this year; See our cool graph
27 January 2023 - If you want to know how the FMA has changed and what it's plans are for this year then [READ ON]. The home rate world is getting interesting with...
Mixed story for mortgage holders as interest rates rise - banking chiefs
2 November 2022 - Some mortgage holders face rapid exposure to rising interest rates but many others still have a period of grace before having to face the music, a conference has heard.
Not rushing to pass on OCR increases
10 October 2022 - Banks have, somewhat surprisingly, been slow to pass on last weeks 50 basis point OCR increase. [READ ON] ...
Banks switch focus to refinancing
22 June 2022 - Banks are moving into offering incentives for investors and homeowners to switch when refinancing their mortgages as property sales plummet.
People increasingly unhappy with banks
14 April 2022 - The latest survey of banks by Consumer NZ shows 73% of New Zealanders think they charge too much.
CCCFA and financial adviser reforms not well implemented; Bankers Association
12 October 2021 - The Bankers Association has given more examples of how difficult it can be to comply with government regulation.
CCCFA an opportunity for advisers
21 September 2021 - Mortgage advisers will benefit from CCCFA lending changes as borrowers seek help with complex home loan applications, according to Squirrel's John Bolton.
Death by 10,000 paper cuts
7 September 2021 - The advice industry is undergoing much change, and you could be forgiven if you hadn't noticed what's happening to our brethren - mortgage advisers.
Westpac abandons NZ sale plan
24 June 2021 - Westpac Group has shelved plans to spin-off or sell its New Zealand division following a strategic review.
NZ banks in strong shape
5 May 2021 - New Zealand lenders bounced back from the pandemic to increase profits by 35.1% quarter-on-quarter in the three months to December.
Bancassurance – an opportunity for advisers?
22 April 2021 - Advisers love to hate bancassurance – the low or no advice process, the perceived pressure to use bank products alongside mortgage lending (whether that is real or not) and more limited products make it easy for advisers to find fault with bank offers.
Big banks weigh affordability changes
26 March 2021 - ANZ has confirmed it will review its affordability criteria for investor loans in the wake of the Government's housing reforms. TMM Online asked the rest of NZ's major lenders if they plan to follow suit.
Bank profits plummet ... to $4.4 billion
24 February 2021 - New Zealand banks suffered a 27.57% drop in profits in 2020 because of Covid-19, but still made $4.4 billion, according to a new report published by KPMG.
Negative OCR still needed - Westpac
20 October 2020 - Despite fears of an overheated housing market, Westpac economists believe the Reserve Bank will still need to lower the official cash rate next year.
LVR limits will return for investors
16 October 2020 - The odds of LVR restrictions returning for investors next year are "fairly high" due to the strength of the residential property market, according to economist Tony Alexander.
Kiwibank sees lending rise: KPMG
23 September 2020 - Kiwibank increased lending by 8.8% in the year to June, according to KPMG’s latest banking report, despite a tough period for the nation’s banks.
Borrowing boom in July – before second lockdown
26 August 2020 - Home lending soared to $6.5 billion in July during New Zealand's Covid-free period, reaching its highest level since November last year.
Mortgage deferral programme to be extended
12 August 2020 - Reserve Bank governor Adrian Orr says the mortgage deferral programme will be extended beyond September, as the Covid-19 pandemic regains a grip on New Zealand.
ANZ eases servicing test
4 August 2020 - ANZ has become the latest bank to ease its servicing test criteria for borrowers, reflecting the lower interest rate environment.
COMMENT: It’s not all doom & gloom
30 July 2020 - Uncertainty still casts its shadow over the property market but there are factors that could see a brighter outlook than some expect, writes CoreLogic's Kelvin Davidson.*.
Mortgage holidays set for extension
29 July 2020 - Minister of Finance Grant Robertson says the Reserve Bank could extend mortgage holidays for struggling borrowers.
COMMENT: Extend mortgage holidays
27 July 2020 - The Covid-19 prompted mortgage “holiday” scheme is set to end in September but Century 21 New Zealand owner Derryn Mayne is calling for it to be extended.
Servicing tests hinder home loan market
17 July 2020 - Tough servicing tests continue to hinder the home loan market, leaving borrowers unable to tap into attractive headline interest rates.
Mortgage demand picked to decline
16 July 2020 - Banks are expecting a fall in demand for mortgage lending in the second half of 2020, according to a new Reserve Bank Credit Conditions Survey.
Why bank changes are good for advisers
8 July 2020 - The days of face-to-face banking may be numbered with the big banks closing branches around the country in the wake of Covid-19, but this change could work out well for advisers.
Why the future is not bleak for the housing market
3 July 2020 - Uncertainty continues to cast its shadow over the housing market but economist Tony Alexander has put together a list of reasons which offset the negatives and mean the market remains well-supported.
Bank profits drop 20%
3 July 2020 - Bank profits plummeted by 20% in the three months to March, with the early impact of Covid-19 hammering the sector, according to a new report from KPMG.
Signs of confidence but early days yet
30 June 2020 - Tough economic times might be ahead but a new report from REINZ shows there are some early signs of confidence in the housing market post-lockdown.
S&P forecast 10% house price fall
24 June 2020 - Global ratings agency Standards & Poors is the latest to join the chorus of predictions around potential house price falls in New Zealand – and they’re picking a 10% drop.
New-to-bank lending freeze
17 June 2020 - Banks have stopped taking on new borrowers above 80% LVR, despite the end of loan-to-value ratio restrictions last month.
Bank LVR limits on hold
4 June 2020 - Banks have not relaxed loan-to-value ratio limits for investors, despite the Reserve Bank's move to scrap LVR rules.
Price expectations spiral down
27 May 2020 - Housing confidence has been dealt a hefty blow by the Covid-19 crisis with house price expectations plummeting to new lows.
Mortgage lending slumps to record low in April
26 May 2020 - Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.
OCR reaction: Reserve Bank open to lower, negative rates
13 May 2020 - Economists say that the Reserve Bank has left the door open to lower or even negative rates, as it kept the official cash rate on hold in its Monetary Policy Statement (MPS) today.
Reserve Bank ends LVR restrictions
30 April 2020 - The Reserve Bank has decided to remove loan to value ratio restrictions for 12 months in response to the Covid-19 crisis.
[VIDEO] Don’t expect a buyers’ market immediately
15 April 2020 - Listings of properties for sale are likely to lift post-lockdown but CoreLogic’s head of research, Nick Goodall, says that doesn’t mean the housing market will immediately switch into a buyers’ market. [WATCH VIDEO]
Lockdown market sentiment
6 April 2020 - Caution might dominate property sector participants’ takes on the market, but independent economist Tony Alexander’s latest polling reveals that not all investors are taking a step back.
COMMENT: Making sense of it all: COVID-19, the economy & property
2 April 2020 - The Covid-19 crisis means everything is changing fast, so CoreLogic’s Kelvin Davidson* has put together his 10 key points on what to be aware of when it comes to the property market.
Bank margins under pressure: KPMG
1 April 2020 - Bank margins are under pressure amid record low interest rates and lenders may not be able to cut mortgage rates much further, according to a new report from KPMG.
Banks roll out mortgage holiday
30 March 2020 - Major lenders have launched mortgage holidays for borrowers affected by the Covid-19 outbreak, using online application forms to process customer requests.
Put RTA reform proposals on ice
23 March 2020 - Now is not the time for the Government to push through its proposed tenancy law reforms, property market players say.
What coronavirus means for property investors
16 March 2020 - Welcome to Fortress New Zealand. The coronavirus crisis means that strict travel bans are now in force and a recession is expected. So what does that mean for property investors going forward?
Will mortgage rates fall much further?
9 March 2020 - An official cash rate cut looks increasing likely amid the Covid-19 outbreak, but economists doubt mortgage rates will drop much further than current levels.
Heartland launches reverse mortgages for investors
19 February 2020 - Heartland has expanded its reverse mortgage business and will now lend against investment properties and second homes, as the product becomes more popular in New Zealand.
Reserve Bank capital review: decision date set
11 November 2019 - The Reserve Bank will make a final decision on its proposed new capital rules on December 5, a move that could reshape the banking sector in New Zealand.
LVR loosening likely - ANZ
23 October 2019 - LVR restrictions were never meant to be a permanent feature of New Zealand’s housing market and ANZ economists argue that some further relaxing of them could soon be on the cards.
Legislation overload 'could have unintended consequences'
15 October 2019 - New rules of conduct for banks and insurers could be bad news for organisations already grappling with the looming implementation of the Financial Services Legislation Amendment Act, one law firm says.
Prefab changes don’t address finance issue
14 October 2019 - Reforms to the Building Act will make it easier to carry out a prefab build - but it will be large scale projects that benefit rather than smaller-scale investor projects.
Insurers won't be responsible for advisers 'at this point in time'
2 October 2019 - A new conduct regime will include "future-proofing" in case financial advice providers do not conduct themselves properly.
Experts support capital review: RBNZ
1 October 2019 - The Reserve Bank says independent international experts support its plan to introduce strict new capital rules for banks.
LVR limits slow down investors
26 September 2019 - LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.
NZ banks exposed: S&P
23 September 2019 - Risks in the New Zealand banking system are comparable with Iceland, Ireland and Mexico, according to a new report from ratings agency Standard & Poors.
Home loan complaints rise
18 September 2019 - Complaints against banks by home loan borrowers rose by 12.3% last year amid a rising number of declined applications, according to the Banking Ombudsman Scheme.
Reset policies will prompt price rises - Westpac
10 September 2019 - KiwiBuild “reset” policies will boost demand, rather than supply, and that will lead to house price rises, Westpac’s economists are predicting.
NZ banks face headwinds
10 September 2019 - The likelihood that New Zealand will face a severe house price correction has reduced and so too have the risks to lenders; however they face profitability headwinds.
Low deposits won’t lead to mortgage free for all
5 September 2019 - 5% deposits for first home buyers – it’s one of the centrepieces of the KiwiBuild “reset” – but advisers are asking whether it will actually make the sort of difference hoped for.
Slashing OCR has worked, economist says
28 August 2019 - The OCR is low and poised to get lower but Westpac’s chief economist doesn’t believe that means concerns about a negative OCR are warranted.
DTIs still on the Reserve Bank’s radar
12 August 2019 - Almost half of Auckland first home buyers have mortgages that are over five times their annual income – and that makes debt-to-income (DTI) ratios a hot topic again.
Banks, insurers' complacency 'hard to comprehend' - FMA
2 August 2019 - The complacency of the New Zealand banking and life insurance sectors in the face of the Australian inquiry into financial services misconduct was "frustrating" and "difficult to comprehend," the chief executive of the Financial Market Authority, Rob Everett, said today.
Reserve Bank capital requirements 'could prompt listing'
4 July 2019 - Reserve Bank moves to require banks to hold more capital could be good news for the share market.
The takeover: more mortgages for FHBs
28 June 2019 - First home buyers have now taken over from investors in the mortgage lending stakes, new Reserve Bank data reveals.
10 market predictions for the rest of 2019
28 June 2019 - It’s been an eventful year for the residential property market so far but now’s a good time to look at what might be in store for the rest of 2019, declares Core Logic senior property economist Kelvin Davidson.
Golden rates age set to last
28 May 2019 - There’s no need to worry about interest rates in connection to mortgage debt for the next few years, according to Kiwibank’s chief economist.
OCR cut to boost market
9 May 2019 - New Zealand has never seen the Official Cash Rate (OCR) go so low. Now commentators are saying it will reignite the cooling embers of the property market.
Investor lending weak in March
30 April 2019 - The latest Reserve Bank lending data reveals investors borrowed more than $1 billion in March, the highest figure since November, but a 10% fall on the same period last year.
Investor slump continues in February
27 March 2019 - The latest Reserve Bank figures show investors borrowed just $886 million in February, down on the same month in 2017 and 2018, as first home buyers narrow the gap.
First home buyers close gap on investors
27 February 2019 - January mortgage lending data from the Reserve Bank reveals first home buyers continue to grow their market share, closing the gap on property investors.
How Australia’s Royal Commission could affect NZ investors
7 February 2019 - Shockwaves are running through Australia’s finance industry following the Royal Commission’s damning report so how could the recommendations impact on New Zealand investors?
Wealth business pays off for banks
17 January 2019 - New Zealand banks may be reluctant to let go of their wealth businesses because of the profitability of those segments.
Sales surge up in Super City
5 December 2018 - Concerns that Auckland might soon follow the Sydney and Melbourne markets in their downward spiral should be alleviated by new Barfoot & Thompson data.
Kiwi banks may follow Australians out of wealth business
4 December 2018 - It’s possible that New Zealand banks will follow their parents out of financial advice – but it would be to the detriment of New Zealanders, one commentator says.
LVR easing will prompt modest growth
28 November 2018 - Don’t expect the housing market to take off at a runaway pace following the Reserve Bank’s announcement that the LVR restrictions will be eased from early next year.
ASB plays down fee-for-service talk
20 November 2018 - ASB has played down speculation it will follow owner CBA by supporting a fee-for-service model for mortgage advice, following comments made by CBA CEO Matt Comyn to the Royal Commission this week.
Bank staff pushing investments, insurance
15 November 2018 - If you think bank staff are being encouraged to push clients into investments and insurance that aren’t necessarily right for them, you’re probably correct.
Rates fall boosting housing market - Westpac
15 November 2018 - Mortgage rates have fallen to record lows recently and the housing market is perking up as result – but it won’t last, Westpac’s chief economist says.
Banks told: Make sure you know what advisers doing
6 November 2018 - More work is needed to ensure banks are comfortable with the quality of conversations and advice being given by advisers, the Financial Markets Authority and Reserve Bank say.
D-day looming for bank conduct report
2 November 2018 - The Financial Markets Authority (FMA) and Reserve Bank will be releasing their report into bank conduct and culture in New Zealand banks on Monday.
Mortgage brokers key channel for profit-surging banks: KPMG
19 September 2018 - Mortgage advisers are predicted to continue to be an important source of business for Kiwi banks as they soar to new heights of profitability.
Bank advice criticised
6 September 2018 - A bank adviser has been sanctioned by the Banking Ombudsman for poor advice given to a client.
Bank fund managers 'conflicted on exclusions'
23 July 2018 - KiwiSaver provider Simplicity has hit back at claims that sector exclusions are not the best way to manage investments responsibly, saying banks have a conflict of interest that stops them achieving the best outcomes in New Zealand.
Small banks growth outpace big banks
18 July 2018 - New Zealand’s smaller banks have grown their lending books at a faster pace then their big four Australian-owned peers in the March quarter.
Bank profits under pressure - KPMG
18 July 2018 - The era of record setting profits for New Zealand banks looks to be over with a new report revealing they saw a significant decline in the last quarter.
Owner occupiers better protected now: RBNZ (+ Report)
17 July 2018 - New owner-occupier mortgage holders have become less vulnerable to a housing market bust, higher interest rates or income loss since the Reserve Bank introduced the LVRs.
Mortgage lending hits two year high
28 June 2018 - Mortgage lending is flying in the face of the cooler housing market with Reserve Bank data showing May saw the highest level of new lending in nearly two years.
Bank targets 'put customer interests at risk'
26 June 2018 - The only way to remove conflicts of interest in banking is to stop vertically integrated organisations making and selling their own products, one adviser boss says.
Banks get visit from regulators
22 June 2018 - Regulators say the joint Financial Markets Authority and Reserve Bank review of conduct and culture in the New Zealand banking sector is progressing rapidly.
Kiwis back shared equity schemes
21 June 2018 - Many New Zealanders would support government-backed "shared equity schemes" to help first home buyers, as they struggle with high prices across the country.
LVR easing not on cards
30 May 2018 - Hopes that the Reserve Bank might be gearing up to ease the LVRs further have been dashed by this morning’s Financial Stability Report (FSR).
Bank boss backs AFAs and says no to Royal Commission
4 May 2018 - BNZ chief executive Angie Mentis, like her counterpart at ANZ, says there is no need for a Royal Commission in New Zealand and one of the reasons she cites is the existence of AFAs.
New CEO for Kiwibank
26 April 2018 - Kiwibank announced today that former ASB executive Steve Jurkovich will be taking the helm as the bank’s fourth chief executive.
Lending criteria to ease, rates to rise
22 February 2018 - Tight bank lending conditions are expected to ease as credit growth continues to slow, global ratings agency Standard & Poors says.
KiwiSaver should invest more in NZ: Gaynor
15 December 2017 - New Zealanders have missed out on KiwiSaver returns because of their lack of exposure to the local share market, one manager says.
Non-bank sector booming
14 December 2017 - Advisers are increasingly beating a track to the doors of non-bank lenders who are benefitting from the tightening up of bank lending.
Focus on financial crime
12 December 2017 - The New Zealand Police Financial Intelligence Unit (FIU) and the five major New Zealand banks are to run a year-long pilot of the New Zealand Financial...
RBNZ to ease LVR restrictions
29 November 2017 - The Reserve Bank says it will make some slight easing of the LVR restrictions from January 1.
Digital threat to mortgage advisers
27 November 2017 - All three banks who have reported results recently have highlighted their push into digital tools to grow their businesses. This provides a threat and an opportunity to mortgage advisers. Philip Macalister explains.
Bank credit rationing a myth: Healy
24 November 2017 - The common refrain heard from mortgage advisers is that banks are rationing credit, making it hard to get mortgages approved. But banks deny that's happening and blame the Reserve Bank.
Advisers save BNZ's market share
3 November 2017 - Outgoing BNZ chief executive Anthony Healy has described the bank’s latest results as “satisfying”.
BNZ boss does a job swap
2 November 2017 - BNZ's chief executive is handing over, and taking a role with parent NAB.
Fisher Funds: Industry should pull together
31 October 2017 - Bruce McLachlan has recently taken over as the Chief Executive of Fisher Funds Management, coming into the role from the Co-Operative Bank.
New code's wider scope helps advisers: Chairman
19 October 2017 - Authorised financial advisers will benefit from being part of an industry fully bound by a code of conduct, the chairman of the working group developing the new code says.
No case to end LVRs – S&P
14 September 2017 - There is no case for the Reserve Bank to relax the LVRs as the housing market remains a risk to New Zealand’s banking system, according to Standard & Poors.
HomeStart boost could drive prices up
11 September 2017 - The National Party has promised to increase the funds available to first home buyers under the HomeStart grant but critics say that will simply drive up house prices.
Nagging and the definition of ‘financial advice’
28 August 2017 - Once upon a time we had this corporate guru come and talk to us about teams and communications.
Investor lending exodus
25 August 2017 - It is investors, not first home buyers, who are bearing the brunt of the LVRs and retreating from the borrowing arena, new Reserve Bank data shows.
PM rules out DTI ratio idea
16 August 2017 - Prime Minister Bill English has ruled out allowing the Reserve Bank to bring in debt-to-income ratios. It had suggested limiting loans to no more than five times borrowers’ incomes.
Sovereign for sale but who will buy?
10 August 2017 - A sale of Sovereign could be good news for customers and advisers, one industry commentator says.
No dovish nod to future for RBNZ
10 August 2017 - The Reserve Bank’s OCR statement made it clear hikes are a long way off but its tone was still far less dovish than economists were expecting.
ASB lauds fixed rate rollovers
9 August 2017 - ASB talked up its investments in digital technology, such as its fixed rate rollover tool, when it announced its first-ever $1 billion profit, but one of its first ventures into offering new services to customers looks doomed.
Get basics right: Ballantyne
9 August 2017 - Naomi Ballantyne, Managing Director of Partners Life, talks about adviser businesses and getting them ready for the future, plus an update on their upcoming roadshow.
CBA eyes Sovereign, CommInsure divestment
9 August 2017 - Commonwealth Bank of Australia has signaled the possible divestment of its life insurance businesses in New Zealand and Australia, but Sovereign CEO, Nick Stanhope says it's "business as usual".
Future could hold OCR cuts
6 August 2017 - Think the OCR will stay on hold this week? So do economists – but some also say there is growing scope for the Reserve Bank to cut again.
PAA talks through concerns with ASB
3 August 2017 - PAA chairman Bruce Cortesi has told members the association had an “open, honest and fruitful” conversation with ASB, as it works to tackle bank practices it says undermine advisers.
SBS eyes partnership with mortgage advisers
1 August 2017 - The bank says around a third of its business now comes from advisers and chief executive Shaun Drylie gives his views on commission models.
Peters wants spotlight on banks
20 July 2017 - There is support among the financial advice sector for Winston Peters' call for an investigation into banks.
Review a resounding win for the 'big end of town'
19 July 2017 - Murray Weatherston, a founding member of SIFA, talks to us about the Financial Adviser Review Act, where it’s going and some of his thoughts on it.
SBS eyes 'partnership' with mortgage advisers
14 July 2017 - The bank says around a third of its business now comes from advisers and chief executive Shaun Drylie gives his views on commission models.
ANZ launches scheme to help retain KiwiSaver clients
14 July 2017 - ANZ is launching a new system through which it hopes to hold on to more of its KiwiSaver members.
Decline in banking sector profits - KPMG
12 July 2017 - Bank profits dropped in the first part of this year – despite the housing loan driven growth of their loan books.
Hawkish talk foreshadows rate rises
5 July 2017 - Tightening talk is coming from central banks around the world – although not New Zealand’s – and that means more interest rate movement is on the cards.
PAA slams banks for undermining advisers
29 June 2017 - Unfair bank practices designed to undermine advisers have incurred the wrath of the Professional Advisers Association (PAA) and prompted it to go into bat for its members.
Investor lending decline continues (+GRAPH)
28 June 2017 - Investors’ share of new mortgage lending dropped again in May although the amounts loaned were up, new Reserve Bank lending data reveals.
Focus on bank sales may be good news for advisers
19 June 2017 - There's welcome news for advisers who bemoan an uneven playing field with bank staff - their sales targets are under renewed scrutiny, as two big banks promise change.
Is the writing on the wall for handwritten loan apps?
15 June 2017 - Handwritten loan applications may be on the way out for ANZ but are any of the other banks rushing to follow suit?
Westpac scraps online app process
9 June 2017 - Lack of use has led Westpac to ditch its digital mortgage application system for mortgage brokers from June 1.
DTIs would cut thousands out of market
8 June 2017 - Around 11,000 people a year could be prevented from buying properties if the Reserve Bank was to deploy debt-to-income ratios (DTI), the Bank has estimated.
Appeal loss for mortgage fraudster
6 June 2017 - Former Auckland socialite Eli Devoy has lost her appeal against her convictions and sentence for her involvement in a $9.2 million mortgage fraud scheme.
RBNZ renews push for DTIs
31 May 2017 - UPDATED: Ongoing risks posed by the housing market mean the Reserve Bank is set to start consulting on the addition of debt-to-income ratios (DTIs) to its policy toolkit.
Non-banks winners as mainstream lenders tighten rules
19 May 2017 - Banks tightening and more strictly enforcing their lending criteria are driving borrowers to non-bank options.
Review could tighten loan market
5 May 2017 - Getting a home loan could become even harder if a Reserve Bank review tightens capital requirements for banks.
Cooperative Bank appoints new CEO
1 May 2017 - Following the departure of Bruce McLachlan in March, the bank has now named his permanent replacement.
Bank staff: Target pressure not in customer best interests
1 May 2017 - Bank staff are worried that sales targets are causing them to sell products, including KiwiSaver and insurance, that are not a good fit with their customers’ needs, the union that represents them says.
Local flavour makes for bank winners
24 April 2017 - It seems that locally owned banks rule the roost when it comes to customer satisfaction, with three New Zealand banks taking out the top awards in Consumer NZ’s latest awards.
Interest-only loans come under the spotlight
11 April 2017 - Australia’s interest-only loan crackdown could lead to a tightening up on the rules in New Zealand.
Lending growth will slow – S&P
6 April 2017 - Recent increases in mortgage rates are set to continue, but this will help ease the risks house price inflation poses to New Zealand banks, Standard & Poors says.
Reaction: OCR - 'Nothing to see here'
23 March 2017 - Interest rates look set to remain low for some time following a Reserve Bank OCR announcement this morning which was as expected and determinedly neutral, according to economists.
Next to no chance of OCR cut
17 March 2017 - Spotting the difference will be the name of the game in next week’s OCR announcement – with economists across the board agreeing the Reserve Bank will make no changes.
Auckland affordability a credit negative - Moodys
8 March 2017 - Poor housing affordability in Auckland is a credit negative for New Zealand covered bonds backed by mortgages in the city, according to a global ratings service.
DTIs should be in RBNZ toolkit - IMF
7 March 2017 - Debt-to-income ratios (DTIs) and the redirection of tax incentives away from housing would help tackle the risks posed by New Zealand’s housing market, the IMF says.
Decline in investor lending continues
27 February 2017 - Ongoing downward trend in investor lending is exposed by the Reserve Bank’s latest mortgage lending data, which highlights the housing market’s slowdown.
Banks split on demand for personalised advice
16 February 2017 - [UPDATED] There are calls for more promotion of investment and retirement planning as a career, as a survey of banks reveals low numbers of advisers being hired.
Volatility leads to tighter lending environment
16 February 2017 - Expect slower lending growth and rising interest rates this year as banks respond to developments in 2016, the latest KPMG Financial Institutions Performance Survey says.
DTIs not needed right now - RBNZ
9 February 2017 - The Reserve Bank would not implement controversial debt-to-income ratios (DTIs) right now if it had them in its macro-prudential toolkit, the bank’s governor says.
OCR hike expectations premature
9 February 2017 - Markets have got ahead of themselves in OCR hike expectations – and the Reserve Bank’s OCR announcement this morning makes that clear, the experts say.
OCR cut not expected
3 February 2017 - It’s a unanimous verdict: economists en masse expect the OCR to stay on hold next week – and for many months after that.
Client-first may be too big an ask for biggest players
26 January 2017 - Is "client first" too much of a challenge for vertically-integrated organisations, such as banks? David Whyte ponders whether it's time to provide a carve-out for sales, as opposed to advice.
Surprise spike in mortgage lending
21 December 2016 - Evidence that the effect of the latest LVR restrictions might be diminishing comes in new data which reveals a big jump in mortgage lending – including to investors.
Rising rates, quieter market
16 December 2016 - Higher mortgage rates will have a more sustained impact on the housing market than the LVR restrictions have, according to Westpac.
Fed move will boost NZ rates
15 December 2016 - Mortgage rates are set to continue on their slow upward trajectory – after getting added impetus from the first US Federal Reserve rate increase in a year.
Progress of DTIs stalls
13 December 2016 - Prospective debt-to-income ratios (DTIs) have hit a stumbling block on the road to their arrival due to Finance Minister Bill English’s ascension to Prime Minister.
DTIs not in the near future - economists
30 November 2016 - Concerns about the increase in debt relative to incomes mean the Reserve Bank want the tools to address the issue, but economists don't expect to see them introduced anytime soon.
Downbound trend for investor lending
24 November 2016 - There is now little doubt that the new LVR restrictions are having a significant impact on property investor activity, with lending in this area slumping to new lows.
DTIs not on the cards yet - RBNZ
10 November 2016 - The Reserve Bank might want debt-to-income ratios (DTIs) as part of its arsenal but it doesn’t intend to introduce them into the regulatory mix at this stage.
OCR to hit lowest point this week
4 November 2016 - A historic low is looming for the OCR this week but it could be the trough of the cycle, with most economists predicting the cut will be the last.
Fall in investor lending continues
27 October 2016 - New investor-focused LVRs have led to a free fall in bank lending to investors, the Reserve Bank’s latest mortgage lending data reveals.
Next OCR cut to be the last - ANZ
26 October 2016 - The OCR should trough at 1.75% in November as the Reserve Bank’s next cut is likely to be the last one in the current cycle, ANZ has suggested.
Prospect of DTIs looms larger
25 October 2016 - Controversial debt-to-income ratios (DTIs) have moved a step closer.
KiwiSaver advice sparks complaints
20 October 2016 - Thirteen customers have complained about bank KiwiSaver sales and advice processes over the past year, the Banking Ombudsman says.
Tough lending times for investors
11 October 2016 - Funding costs are getting steeper for investors as banks charge higher margins and the lending environment tightens, mortgage brokers are warning.
Steep decline in investor lending
26 September 2016 - New Reserve Bank mortgage lending data leaves little doubt that the new investor-targeted LVRs have had a significant impact on bank lending to investors - lending to Auckland landlords dropped by almost 20%.
Westpac keeping eye on Australian sales incentive change
26 September 2016 - Westpac is removing sales incentives for its frontline staff in Australia as part of its work to rebuild trust with customers – but says the situation is different in New Zealand.
OCR call sticks to the script
22 September 2016 - Keeping the OCR on hold was the move expected of the Reserve Bank today, but economists say it means there will be another cut in November.
New LVR rules clarified, confirmed
5 September 2016 - Greater clarification of the details surrounding new lending requirements has come today with the Reserve Bank’s confirmation of its latest investor-targeted LVRs.
Looming LVRs impact on mortgage lending
24 August 2016 - New LVR restrictions seem to be affecting mortgage demand already, with the Reserve Bank’s latest residential lending data showing a big dip in mortgage lending
House prices growing risk for banks – S&P
23 August 2016 - Skyrocketing house prices mean New Zealand banks are facing increased economic risks and will now have higher risk weights, a global ratings agency has said.
Reserve Bank defends interest rate stance
23 August 2016 - Lowering the OCR risks further fuelling house price growth but the Reserve Bank believes it has been a necessary trade-off to prevent a decline in inflation expectations.
New LVR start date delayed
12 August 2016 - The Reserve Bank has delayed the start date of new LVRs aimed at investors from 1 September to 1 October 2016, following banking industry feedback.
Borrowers unlikely to see full cut
11 August 2016 - Reserve Bank expects this morning’s OCR cut to be passed on to, but that's unlikely to happen. ANZ has already said it is only passing on one fifth of the central bank's cut to its customers.
Apartment size key to future lending
4 August 2016 - Smaller, cheaper apartments will be part of Auckland’s future, under the Unitary Plan, but experts say banks apartment lending criteria could be a problem.
Bank risk real LVR target
4 August 2016 - Mitigation of bank risks, rather than dramatic house price correction, is the likely outcome of the Reserve Bank’s new LVRs, financial experts say.
HomeStart changes meant to open up market
1 August 2016 - Steep increases in house prices around the country have led the government to boost the income and house price caps in the KiwiSaver HomeStart scheme.
Solvency key for self-employed borrowers
29 July 2016 - Cash flow should always be king for self-employed borrowers and advisers need to remember that, according to an ANZ business expert
Fall in mortgage lending
27 July 2016 - Drop in new mortgage lending in June’s Reserve Bank data suggests slowing demand – and it occurred before last week’s announcement that further LVR restrictions are coming.
Future OCR cuts dependent on inflation
7 July 2016 - Persistently subdued inflation means a further OCR cut looks likely, but economists are suggesting that the tide may have turned on multiple cuts.
Mortgage lending hits record high
27 June 2016 - Mortgage lending was up again in May and nearly half of it was in interest only loans, the Reserve Bank’s new, more detailed lending data reveals.
Brexit means August OCR cut likely
27 June 2016 - It’s early days yet but economists agree that Brexit has upped the odds for the Reserve Bank to cut the OCR in August.
Borrowing frenzy risks
22 June 2016 - New Zealand’s high level of mortgage lending has been in the spotlight recently and commentators are warning that’s for good reason.
Financial stability reason for unchanged OCR
9 June 2016 - The Reserve Bank may have left the OCR unchanged – due to a more upbeat economic assessment - this morning, but economists continue to expect a further cut to come.
OCR calls favour hold
3 June 2016 - Not so long ago most economists were picking that another OCR cut would be announced at next week’s Reserve Bank meeting, but now the mood has changed.
OCR on hold till August - HSBC
30 May 2016 - Strong growth and a booming housing market mean that HSBC now expects the Reserve Bank to hold off on an OCR cut until August.
Budget unlikely to change Reserve Bank views
27 May 2016 - It’s been described as a no surprises, boring Budget, but what might Budget 2016 mean for interest rates?
Inflation concerns could mean June cut
23 May 2016 - Low inflation expectations are feeding OCR projections of a June cut, but it’s still possible other factors may edge that timing out.
Expect more lending restrictions soon
17 May 2016 - New macro-prudential measures to curb the housing market could be introduced within the next three months, one bank economist has suggested.
LVR measures on the horizon
11 May 2016 - Further LVR restrictions may be off the table for the time being, but economists still believe more macro-prudential measures are on the way.
Ensure full disclosure - ComCom
5 May 2016 - Failure to disclose all the required information to mortgage borrowers could cost lenders, the Commerce Commission has warned.
ANZ profits drop in half year results
3 May 2016 - Half year profits are down at New Zealand’s biggest bank, ANZ revealed today.
Onwards and upwards
3 May 2016 - New Zealand’s economic growth is set to head upwards over the next couple of years, while interest rates dip further, a new report says.
OCR hold right call – for now
28 April 2016 - Leaving the OCR on hold today was the right decision, but there will be further cuts down the track, economists say.
Rise in investor lending reflects strong market
28 April 2016 - More evidence of the surging strength of the housing market comes in new data showing mortgage lending, including to investors, is up across the board.
Odds against OCR cut
22 April 2016 - An OCR cut this week is a live call, but most economists think the Reserve Bank will wait a bit longer before cutting again.
Are more housing market curbs on the agenda?
19 April 2016 - Speculation over the prospect of further restrictions on the housing market has been growing, but the Reserve Bank is remaining silent.
Predicting the RBNZ's next OCR announcement a head scratcher
13 April 2016 - It's just over a fortnight now until the Reserve Bank makes its next Official Cash Rate announcement. After the surprise cut last time and a mixed bag of economic news since then, economists are scratching their heads to try and predict if the OCR will stay at 2.25% or be cut.
Investor lending picks up
24 March 2016 - Lazy, hazy days of the summer market are over as new data shows investor lending is on the rise again.
More OCR cuts to come - ASB
21 March 2016 - Further OCR cuts will be needed for the Reserve Bank to get the economic stimulation it needs, ASB predicts.
No role for politicians in OCR uproar - experts
16 March 2016 - Banks’ reluctance to pass on last week’s OCR cut may not be popular, but commentators agree it is far from surprising – and politicians shouldn’t get involved.
Timing of OCR cut surprises
10 March 2016 - There is widespread surprise that the Reserve Bank has cut the OCR again so soon.
OCR cut this week unlikely
7 March 2016 - There’s little doubt further OCR cuts are on the way, but most economists see a cut this week as unlikely.
ANZ changes position on OCR cuts
29 February 2016 - Another major bank has joined the OCR cut camp – with ANZ today predicting two more cuts this year.
Downward trend for investor lending
25 February 2016 - Recent slowdown in Auckland’s housing market seems to be reflected in new data which shows a big drop in investor lending.
Volatility, regulation don’t hold back banks
24 February 2016 - Neither global volatility or new LVR regulations prevented the banking sector from turning in record profits in 2015, according to the latest KPMG Financial Institutions Performance Survey.
Threats linger for banks – S&P
23 February 2016 - Twin threats posed by house and dairy prices could yet impact on New Zealand banks, Standard & Poor’s says.
Inflation expectations fall sharply
17 February 2016 - Marked decline in inflation expectations could be crucial for OCR outlook, one major bank says.
Forecasts not commitment - RBNZ
4 February 2016 - Don’t mistake transparency and regular guidance as commitment to a certain policy path, the Reserve Bank warns.
Flexibility key to RBNZ policy
3 February 2016 - Responding to low inflation with immediate interest rate cuts is not the way to go, the Reserve Bank says.
Investor lending recovers
29 January 2016 - Impact of new tax and LVR measures for investors may be less profound than hoped, new lending data suggests.
NZ economic outlook downgraded
27 January 2016 - Weaker prices for agricultural exports have led Fitch Ratings to revise New Zealand’s growth outlook down.
OCR cuts to come – but not now
25 January 2016 - Inflation forecasts are the key theme in economists’ predictions for Thursday’s official cash rate call from the Reserve Bank.
Mortgage lending grows
22 December 2015 - Increase in mortgage lending goes against the prevailing trend of slowing growth, new analysis says.
New proposal for banks off-quarter reporting
21 December 2015 - Changes to banks’ off-quarter disclosure requirements are the subject of a new Reserve Bank proposal.
Big drop in investor lending
26 November 2015 - New tax and loan-to-value (LVR) ratios seem to have significantly dented bank lending to investors.
Housing market still a risk - RBNZ
11 November 2015 - There are no Reserve Bank plans for further investor restrictions, despite its housing market concerns.
Decline in high LVR lending to investors
27 October 2015 - Bank lending to investors is already showing the effects of the Reserve Bank’s new loan-to-value (LVR) restrictions, which come into force at the beginning of next month.
Most Ombudsman cases go in banks' favour
19 October 2015 - Banks' poor customer service was the cause of almost half the complaints to the Banking Ombudsman in the past year. The scheme has released its annual...
Further OCR cuts to come
10 September 2015 - Mortgage rates may yet have further to fall, after the Reserve Bank’s cutting of the OCR to 2.75% today.
Lending up but profits flat
7 September 2015 - New Zealand’s five major banks* profits flattened in the second quarter of 2015, although lending growth continued, according to a new analysis by PricewaterhouseCoopers (PWC).
Investors increasing Auckland price pressure – RBNZ
24 August 2015 - Growing investor demand for Auckland property has exacerbated the price pressures arising from the underlying supply shortage, the Reserve Bank says.
Property prices to blame for S&P downgrade
18 August 2015 - Rampant Auckland property prices – as opposed to the banking and finance system itself - are to blame for Standard & Poor’s downgrading of New Zealand’s risk assessment.
NZ faces rising financial system risks – S&P
17 August 2015 - Robust house price growth – particularly in Auckland – is elevating risks to New Zealand’s financial system, according to Standard & Poor’s latest Banking Industry Country Risk Assessment (BICRA).
More OCR cuts are on the way - RBNZ
29 July 2015 - The Reserve Bank has confirmed that further OCR cuts are likely to be needed.
No surprises in Reserve Bank's move
23 July 2015 - Little surprise followed the Reserve Bank’s OCR cut this morning - and further cuts are now generally expected to come this year.
OCR cut to 3%
23 July 2015 - New Zealand's softening economic outlook and low inflation has led the Reserve Bank to cut the OCR to 3% today.
OCR cut on the cards this week
17 July 2015 - Predictions of multiple OCR cuts by the end of the year are coming thick and fast - with the next one expected on Thursday.
Banks net interest income falls - PwC
24 June 2015 - A decrease in the net interest income of New Zealand’s major banks reflects the current highly competitive lending environment.
FMA warns on bank notes
24 April 2015 - Consumers are being warned to make sure they know what they’re doing if they invest in bank capital notes.
