Finance
Explore the latest finance news by Business Desk.
Law & Regulation
Bank executive incentives a key focus for regulators
By Paul McBeth June 24 (BusinessDesk) - The Financial Markets Authority and Reserve Bank want a better grasp of how bank executive incentives have evolved and what controls are in place to avoid conflicts with sales practices. The regulators today said all banks have outli...
Law & Regulation
Appeal Court puts ANZ back in the gun over interest rate swaps
By Paul McBeth June 24 (BusinessDesk) - The Court of Appeal has overturned a ruling that ANZ Bank New Zealand doesn't have to compensate a Taranaki farming family for the way it had represented the risk attached to interest rate swaps. The High Court turned down a bid by S...
Policy
RBNZ seen keeping rates on hold but signalling more cuts to come
By Rebecca Howard June 24 (BusinessDesk) - The Reserve Bank of New Zealand is expected to keep rates on hold at Wednesday’s review but will signal further cuts are possible. All 20 economists surveyed by Bloomberg expect the official cash rate to stay at 1.5 percent but 11...
Law & Regulation
RBNZ demands assurance ANZ New Zealand is operating prudently
By Rebecca Howard June 24 (BusinessDesk) - The Reserve Bank is demanding ANZ Bank New Zealand provide assurance it is operating in a prudent manner after it was censured in May and the bank says it will work with the regulator. The central bank is using powers under sectio...
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