ASB's interest margin jump result of drop in interest expense 16 March 2011 5:09PM ASB's big jump in net interest margin in the December 2010 half was mainly the result of a drop in interest expense on term deposits and issued paper, rather than a rise in income as more mortgages.. read more
Westpac NZ foresees NZ$100 million quake write-off 16 March 2011 5:07PM Westpac NZ, which was the only bank among the Big Four to make a specific provision for the September earthquake, said yesterday that it expects credit losses of up to NZ$100 million from the Februa.. read more
Westpac buys back guaranteed debt 15 March 2011 5:47PM Westpac is set to make the largest buyback of government guaranteed debt to date in the local market, after announcing an offer to buy back the entire A$3.6 billion of March 19, 2012 notes. read more
RBNZ resolves to deal with 'too big to fail' problem 15 March 2011 5:44PM The Reserve Bank of New Zealand and the Government are working together on a policy to deal with the "too big to fail" problem. The policy will fulfil the twin objectives of ensuring that the cost o.. read more
Asset-backed issuance growing 14 March 2011 5:41PM The subdued market for mortgage-backed securities will see its second transaction of the year this week, with ME Bank marketing what will be the second issue of the year. read more
Growing covered bonds issuance not a risk for Fitch 14 March 2011 5:39PM The growing issuance of covered bonds prompted Fitch Ratings to issue a report saying that over-dependence on covered bonds, which in some cases account for as much as 70 per cent of a bank's balanc.. read more
No regulatory limit on RMBS in NZ 14 March 2011 5:37PM The Reserve Bank of New Zealand confirmed the 10 per cent regulatory limit on the assets encumbered for covered bond issuance, but said it doesn't plan to introduce a regulatory limit on residential.. read more
Private placement options extending 14 March 2011 5:34PM Raising funds in the US private placement market seems to be getting easier for sectors such as property and financial services, which were largely ignored by investors following the global financia.. read more
Speedy rate cuts follow RBNZ easing 11 March 2011 5:55PM Banks in New Zealand reacted swiftly to the 50-basis-point cut in the official cash rate by the Reserve Bank, with all the major banks announcing almost an equivalent drop in their floating mortgage.. read more
CIBC back for covered bonds 11 March 2011 5:52PM While Kangaroo bond issuance by supranational agencies have been absent for the second straight week, Canada's CIBC has been emboldened enough to launch a covered bond issue. This is despite u.. read more