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HiFX Data Update - RBNZ Financial Stability Report
HiFX Data Update - RBNZ Financial Stability Report
The RBNZ has just released its Financial Stability Report.
The key points in report are:
• Reserve Bank of NZ stability review says financial system risks have eased, but remain high
• Slower mortgage lending growth and house price inflation have reduced risk.
• RBNZ are to ease LVR’s from start of 2019:
o Banks able to provide 20% (from 15%) of new owner-occupier loans to owner-occupier borrowers with less than 20% deposit
o Banks able to provide 5% of new investor loans to investors borrowers with less than 30% (lowered from 35%)
• High debt and asset prices mean the global economy remains vulnerable to shocks
• High debt levels mean NZ households remain vulnerable to financial risk
• Recent slower mortgage lending growth has reduced financial risk somewhat
• Banks need to better manage their conduct risk and lend responsibly
• Longer term, financial firms need to manage risks from climate change
• Preliminary view that higher capital requirements are necessary
• Will reassess whether banking system has enough capital to weather future extreme shocks
• Domestic banking system remains sound
• Mortgage credit growth and house price inflation have eased to more sustainable rates
The NZD is slightly higher in immediate response.
Current indicative levels are:
NZD-USD 0.6780 /
0.6805
NZD-AUD 0.9385 /
0.9410
NZD-EUR 0.6000 /
0.6025
NZD-GBP 0.5320 /
0.5345
NZD-JPY 77.15 /
77.40
Please call for further information or pricing.
Below is the link to the full RBNZ statement and report:
https://www.rbnz.govt.nz/news/2018/11/reserve-bank-to-ease-loan-to-value-ratio-restrictions
ends
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