RBNZ refines definitions of loans terms to ensure compliance with LVR restrictions

Fri, 20 Sep 2013

By Tina Morrison Sept. 20 (BusinessDesk) – New Zealand’s Reserve Bank is refining definitions of loans, valuations and properties to ensure banks implement new restrictions on high debt loans consistently. The central bank today released a consultation paper for banks on proposed changes to language in its rules governing capital requirements. Following feedback from banks, it expects to implement the changes in the first quarter of next year. The Reserve Bank is requiring banks from next month to restrict high loan-to-value ratio mortgages...

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