In its article four consultation statement on the New Zealand economy, the IMF has suggested the Reserve Bank be given a debt-to-income instrument for its toolkit. Thomas Helbling, IMF division chief for Asia and Pacific, said high household debt remained a source of concern and further restrictions to loan-to-value ratios (as used by the RBNZ since 2013) would be less effective than adding a new DTI restriction. The RBNZ is currently considering the case for a new DTI tool, although the New Zealand Government appears reluctant. A new A$600 million three-year series of senior unsecured floating rate notes has been snapped up by Australian dollar investors for Oversea-Chinese Banking Corporation Limited (rated Aa1, AA- and AA- by (Moody's, S&P and Fitch, respectively) via its Sydney Branch. The coupon was set at a margin of 70 basis points over three-month BBSW, priced at a re-offer price of par. This was three points tighter than the initial price guidance of 83 bps over BBSW. The joint lead managers are ANZ, CBA, OCBC Bank, UBS and Westpac. Settlement date is 23 April 2018.