Kiwibank gets innovative with deposits 27 October 2010 5:51PM Kiwibank has introduced the Notice Saver deposit option to the New Zealand market, as competition to attract deposits forces banks to get more innovative in their offerings to customers. read more
Rio Tinto buying back bonds first, fund later 25 October 2010 5:14PM Easy money conditions in the bond market continue to encourage companies to make new issuances and repay existing debt. Rio Tinto is the latest to go with the trend, offering to buy back up to US$2.5.. read more
Competition keeps NZ deposit rates high 22 October 2010 5:23PM Despite clear signals that the cash rate is unlikely to move up any time soon, deposit rates in New Zealand continue to edge higher as banks compete with each other and with finance companies for mo.. read more
Probe too late for South Canterbury 20 October 2010 5:47PM A month after its collapse, South Canterbury Finance has fallen into the hands of the Serious Fraud Office, which is investigating related party transactions on suspicion of false statements or othe.. read more
Fortescue repays one high-yield bond, plans another 18 October 2010 5:40PM Fortescue Metals has securing US$2 billion in bridge-financing from JP Morgan and Royal Bank of Scotland, to refinance earlier high yield bonds. read more
Cap proposed on NZ covered bonds 18 October 2010 5:38PM The Reserve Bank of New Zealand favours a legislative framework for the development of a market in covered bonds. This popular European mechanism has been used only once in NZ and is banned in Austral.. read more
Westpac underperforms post-IT update 15 October 2010 5:35PM Banking stocks had a rough ride the past week despite the broader ASX200 index edging slightly higher during this period, with the share prices of the four major banks losing around 0.6 per cent, wh.. read more
Margin data defies claims of funding ratio pressure 13 October 2010 6:44PM New Zealand banks' contention that core-funding ratio is affecting their margins appears to run contrary to the trend in net-interest margins this year. read more
RBNZ calls for quick replacement of guarantee scheme 13 October 2010 6:42PM The Reserve Bank of New Zealand wants a quick decision on any possible replacement to the extended guarantee scheme when it expires, so stakeholders know what to expect. read more
NZ pulls plug on retail guarantee scheme 12 October 2010 6:03PM The New Zealand government's first-ever retail deposit guarantee scheme came to an uneventful end last night. The guarantee will be replaced with an extended retail deposit guarantee scheme, but wit.. read more