Economy
Explore the latest economy news by BusinessDesk
Finance
RBNZ relaxes capital requirements, allows preference shares, extends phase-in
The Reserve Bank has significantly relaxed its bank capital requirements by no longer insisting all the additional capital must be equity and by extending the phase-in period to seven years from the original five.The big four Australian-owned banks will still have to lift their t...
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Retail
Gloomy building, farming sectors weigh on new car sales
Uncertainty among builders and farmers weighed on sales of new commercial vehicles in November, which dropped 12 percent from the year earlier.Motor Industry Association figures showed there were 4,210 new commercial vehicle registrations last month, down from 4,816 in November 2...
Finance
Bad dairy loans aren't getting worse, just reclassified: Orr
Non-performing dairy loans have risen sharply even with dairy prices at elevated levels because banks have reclassified them, not because the financial position of individual farmers has actually worsened, according to Reserve Bank governor Adrian Orr."Commodity prices need to re...
Finance
NZ banks can currently withstand one-in-100-year shocks: Orr
Bank capitalisation levels currently are sufficient to withstand a one-in-100-year shock to the financial system, according to Reserve Bank governor Adrian Orr."It's about one-in-100 where they sit at the moment, there or thereabouts," Orr told Parliament's finance and expenditur...
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Pattrick Smellie
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Pattrick was judged New Zealand's best overall columnist and business columnist of the year at the Voyager 2021 Media Awards. He has more than 35 years’ experience reporting and working in New Zealand politics and the commercial sector. A former Press Gallery chairman, he is an award-winning journalist and has worked for titles including The Dominion, The Press, Sunday Star-Times and National Business Review. He was the first NZ correspondent for The Australian and co-founded BusinessDesk in 2008.
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