Reserve Bank delays LVR implementation by one month

Fri, 21 Aug 2015

By Pattrick Smellie Aug. 21 (BusinessDesk) - The Reserve Bank of New Zealand will give the country's banks an extra month to implement system changes required to impose new lending restrictions on Auckland residential property investors. In its responses to submissions on new LVR restrictions that were to have applied from Oct.1, the central bank said it was giving banks an extra month, until Nov. 1, to start complying with the new regime. The rules are the second macro-prudential policy initiative aimed at house price inflation by the RB...

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