Finance
Explore the latest finance news by BusinessDesk's team of reporters around New Zealand.
Policy
RBNZ says ANZ has to hold more capital against housing and farm lending
By Jenny Ruth May 29 (BusinessDesk) - The Reserve Bank has imposed new conditions of registration on ANZ Bank requiring it to hold more capital against housing and farm lending from June 30. In its latest Financial Stability Report, the central bank says it has set minimum...
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Policy
RBNZ appoints three independent experts to review bank capital proposals
By Jenny Ruth May 29 (BusinessDesk) - The Reserve Bank has appointed three external experts to independently review the analysis and advice underpinning its bank capital proposals. The three experts are James Cummings, a senior lecturer in finance at Macquarie University,...
Law & Regulation
ComCom investigates BNZ over CCCFA disclosure breaches
By Jenny Ruth May 27 (BusinessDesk) - The Commerce Commission has told Bank of New Zealand it has commenced an investigation into BNZ’s compliance with particular disclosure requirements under the Credit Contracts and Consumer Finance Act 2003. BNZ discloses the investigati...
Retail
Motor Trade Finance profit falls as Turners takes more business in-house
By Paul McBeth May 27 (BusinessDesk) - Motor Trade Finance reported a 2.6 percent decline in first-half profit as the auto lender wrote less business with Turners Automotive Group. Net profit fell to $4.2 million in the six months ended March 31, from $4.3 million a year e...
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