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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:


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