Independent review of ING NZ 23 June 2010 4:27PM As part of its settlement with the Commerce Commission over the frozen ING funds, ING NZ has been asked to engage an external party to complete an audit and review of some of its procedures and proc.. read more
South Canterbury ex-chairman under statutory management 21 June 2010 4:42PM In a surprise development that may have an impact on the fate of still wobbly South Canterbury Finance, its ex-chairman and current President for Life Allan Hubbard has been placed under statutory m.. read more
ASB takes lead on rate hikes post-cash rate jump 18 June 2010 4:49PM The silence lasted exactly a week, and ASB yesterday became the first New Zealand bank to announce a hike in its lending rates to follow the rise in the cash rate announced by the Reserve Bank of Ne.. read more
BNZ gets some waiver on liquidity policy 18 June 2010 4:49PM The Reserve Bank of New Zealand has relaxed its liquidity policy for Bank of New Zealand, giving the bank an extension until October 31 to fully comply with the norms on mismatch ratios and the core.. read more
Price leadership lacking on variable rates 17 June 2010 4:08PM It's been a week since the Reserve Bank of New Zealand made its first hike in the cash rate in nearly three years, up 25 basis points to 2.75 per cent, but not a single bank has announced a hike in.. read more
Higher CFR won't pressure margins, says Westpac 17 June 2010 4:07PM Westpac New Zealand expects minimal pressure on its interest rate margins from the rise in the core funding ratio to 75 per cent expected by mid-2012. The caveat, however, is that there is no signif.. read more
NZ's high external debt a risk to rating 15 June 2010 4:58PM New Zealand's high external indebtedness can pose a risk to its rating, as the recent example of Spain has shown, Reserve Bank Governor Alan Bollard warned in a speech yesterday. read more
Inflation on RBNZ's radar as cash rate hiked 11 June 2010 5:00PM The Reserve Bank of New Zealand stuck to its pledge of removing monetary stimulus around the middle of 2010 and made the first hike in its cash rate since the global financial crisis to ensure "robu.. read more
Westpac details transfers for new model 10 June 2010 4:39PM Westpac has to transfer a substantial portion of the operations it conducted via its branch entity in New Zealand to Westpac NZ to conform to the new operating model it has agreed with the Reserve B.. read more
Corporate impairments worsening for Kiwibank 08 June 2010 4:33PM Kiwibank's impaired assets increased by over 2.5 times in the nine-month period to March 2010 as the bank transferred a large chunk of corporate loans from the productive category to impaired. read more