RBNZ calls for submissions on reinstating LVR restrictions

Tue, 08 Dec 2020

The Reserve Bank is calling for submissions on its plan to reinstate loan-to-valuation-ratio restrictions from March 1, with submissions closing on Jan. 22.The RBNZ removed LVR restrictions in April as part of its response to the coronavirus crisis and then proposed reinstating them last month, after which all the major banks reimposed them anyway.Deputy governor Geoff Bascand said the economy has performed better than expected since April "and the housing market has proved resilient."In particular, lending at higher LVRs to investors...

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