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HiFX Data Update - RBNZ Financial Stability Report Release
The RBNZ has just released its Financial Stability Report.
The key points in report are:
• Reserve Bank of NZ stability review says financial system remains sound
• The banking system holds sufficient capital and liquidity buffers, guided by our prudential regulatory requirements
• Household mortgage debt remains high
• Financial risk has lessened with both lending and house price growth slowing in the last 12 months
• Most dairy farms are currently cash-flow positive, but remain vulnerable to any possible downturn in dairy prices and agriculture shocks
• The banking sector is broadly efficient, although some lending allocation remains a vulnerability
• The insurance sector as a whole also remains sound, profitable and adequately capitalised
• To leave LVR (loan-to-value) restrictions unchanged
• Key vulnerabilities include housing, dairy sector indebtedness, banking system exposure to international risks; remained broadly stable over past 6 months
The NZD is little changed in immediate response.
Current indicative levels are:
NZD-USD 0.6880 /
0.6905
NZD-AUD 0.9175 /
0.9200
NZD-EUR 0.5965 /
0.5990
NZD-GBP 0.5185 /
0.5210
NZD-JPY 74.80 /
75.05
Please call for further information or pricing.
Below is the link to the full RBNZ statement and report:
https://www.rbnz.govt.nz/financial-stability/financial-stability-report/fsr-may-2018
RBNZ Governor Orr testifies about the Financial Stability Report before Parliament Select Committee at1:10pm today. Expect more comments on the global risks (Italy/EU/China) and the impact of Mycoplasmas bovis disease on the NZ economy.
Please call for further information or pricing.
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