RBNZ's new loan restrictions postive for banks' books, Fitch says

Thu, 14 May 2015

By Paul McBeth May 14 (BusinessDesk) - The Reserve Bank's plans to rein in mortgage loans to Auckland property investors should help support lenders' balance sheets and insulate them from a sudden downturn, Fitch Ratings says. The global rating agency said the central bank's new macro-prudential rules, which are expected to come into effect on Oct. 1, are "credit positive" for local lenders. The Reserve Bank yesterday announced plans to prevent private banks from lending to Auckland property investors with a deposit of less than 30 percen...

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