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Articles tagged with 'banks'

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.

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Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.79 4.55 4.79 4.99
ANZ Special - 4.05 4.29 4.49
ASB Bank 5.80 ▲4.45 4.69 4.89
ASB Bank Special - ▲4.05 4.29 4.49
BNZ - Mortgage One 6.50 - - -
BNZ - Rapid Repay 5.95 - - -
BNZ - Special - 4.10 4.29 4.49
BNZ - Std, FlyBuys 5.90 4.69 4.79 4.99
BNZ - TotalMoney 5.90 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.15 5.20 5.25 -
Lender Flt 1yr 2yr 3yr
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.70 4.85 -
Housing NZ Corp 5.80 4.69 4.79 4.79
HSBC Premier 5.89 3.99 4.19 4.69
HSBC Premier LVR > 80% - 3.79 - -
HSBC Special - - - -
Lender Flt 1yr 2yr 3yr
ICBC 5.80 4.59 4.69 5.09
Kiwibank 5.80 4.55 4.69 4.99
Kiwibank - Capped - - - -
Kiwibank - Offset 5.80 - - -
Kiwibank Special - 4.05 4.29 4.49
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 6.10 5.10 5.45 -
Resimac 5.30 4.86 4.94 5.30
RESIMAC Special - - - -
SBS Bank 5.89 4.85 5.05 4.49
Lender Flt 1yr 2yr 3yr
SBS Bank Special - ▼4.15 ▲4.29 4.49
Sovereign 5.90 4.45 4.69 4.89
Sovereign Special - ▲4.05 4.29 4.49
The Co-operative Bank - Owner Occ 5.75 4.10 4.35 4.49
The Co-operative Bank - Standard 5.75 4.60 4.85 4.99
TSB Bank 5.80 ▲4.55 4.69 4.99
TSB Special - ▲4.05 4.19 4.49
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.95 4.69 4.79 5.19
Westpac - Offset 5.95 - - -
Westpac Special - 4.15 4.29 4.59
Median 5.89 4.55 4.69 4.79

Last updated: 17 December 2018 9:03am

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The maximum remuneration model for Australian life insurance advisers is to be set at what?

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Upfront 60% + trail 20%

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