Kiwibank gets innovative with deposits

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

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

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

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

Cap proposed on NZ covered bonds

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

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

NZ pulls plug on retail guarantee scheme

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