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26 Feb 2024   
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Major banks compliant with RBNZ Outsourcing Policy
In a significant milestone, the Reserve Bank of New Zealand - Te Putea Matua is pleased to confirm that New Zealandís largest banks are now compliant with our Outsourcing Policy (BS11) 
© 2024 Tue, 12 Dec 2:05pm 

SBS to offer 5 per cent deposit rate for one year term
SBS Bank has launched a one year term deposit rate of 5 per cent - outstripping the rest of the market as banks slowly lift interest rates on term deposits.Most of the main trading banks are offering 4.4 or 4.5 per cent for a one... 
© 2024 NZ Herald Thu, 27 Oct 11:01am 

Bank payouts to wronged customers top $109 million in four years
Banks have paid out $109 million in remediation to 952,000 customers after New Zealand regulators reviewed the sector.Last month the FMA revealed nearly half a million life insurance customers have been paid out $43 million in... 
© 2024 NZ Herald Thu, 6 Oct 11:00am 

Bank profits dip slightly but remain near record levels
Bank profits dipped slightly in the past quarter but are yet to feel much impact from the economic slowdown.Banks collectively made $1.728 billion in the three months to June 30 - just shy of the $1.744b record set in the March... 
© 2024 NZ Herald Wed, 21 Sep 5:53am 

Continuous Disclosure: How green finance actually works
"Green finance" has become something of a corporate buzz phrase in recent years, as banks and governments increasingly link debt products to sustainability initiatives. The New Zealand Government is even planning to issue "green... 
© 2024 NZ Herald Wed, 10 Aug 5:57am 

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Number of new mortgages issued in June hits rock bottom
The housing market continued to cool in June, according to just-released Reserve Bank of New Zealand (RBNZ) data.Banks issued 14,952 new mortgages, worth $6.1 billion, in June. This was 43 per cent fewer mortgages, worth 29 per... 
© 2024 NZ Herald Tue, 26 Jul 6:42pm 

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European Central Bank raises rates for first time in 11 years
The European Central Bank raised interest rates overnight for the first time in 11 years by a larger-than-expected amount, joining steps already taken by the US Federal Reserve and other major central banks to target stubbornly high... 
© 2024 NZ Herald Fri, 22 Jul 9:57am 

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NZ dollar drops down world currency rankings
The NZ dollar has dropped to 14th place in the world's most traded currency rankings from 10th, according to a Bank of International Settlements (BIS) survey.The triennial survey took place in April and involved central banks and... 
© 2024 NZ Herald Fri, 28 Oct 4:19pm 

More banks move to increase interest rates
Two more banks bumped up their mortgage rates today again in more bad news for borrowers while there are some positive signs for savers with one bank offering 5 per cent interest - the highest rate in some time.Kiwibank and Westpac... 
© 2024 NZ Herald Fri, 21 Oct 2:48pm 

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Continuous Disclosure: Central banks won't walk all the talk
Central banks will keep hiking interest rates, but won't follow through on all their tough talk.This is the view of Fisher Funds' chief investment officer Ashley Gardyne, who is among a group of economic observers who believe the... 
© 2024 NZ Herald Wed, 21 Sep 5:53am 

Six banks to expand regional trial until end of 2023
A regional banking hub trial involving six major banks is to extend until the end of next year and add another four hubs.The trial was launched in November 2020 after an outcry from small towns who had been left with no banking... 
© 2024 NZ Herald Fri, 5 Aug 12:37am 

Multi-million dollar class action lawsuit against ANZ and ASB to include all affected customers unless they opt-out
Customers who don't want to be part of a multi-million dollar class action lawsuit against the ANZ and ASB banks will have to opt-out if they don't want to take part.The High Court has granted approval for the case to be taken as... 
© 2024 NZ Herald Tue, 2 Aug 9:17am 

Covid response: Central banks made 'grievous' mistakes says former RBNZ Governor Graeme Wheeler
Former Reserve Bank Governor Graeme Wheeler says central banks made serious errors in the wake of the Covid-19 pandemic which now need to be acknowledged and corrected.In a new research paper co-authored by Bryce Wilkinson for the... 
© 2024 NZ Herald Tue, 26 Jul 5:22am 

The Front Page: Will Government act on the calls for more workers?
Hospitals, tech companies, restaurants, construction firms and banks have all been calling on the Government to relax the immigration settings to allow more workers to come in. In the year to April, 8668 more people left than arrived... 
© 2024 NZ Herald Mon, 25 Jul 5:22am 

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