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RBNZ Is Proposing The Removal Of Mortgage Loan-to-value Ratio (LVR)

The Reserve Bank of New Zealand is proposing the removal of mortgage loan-to-value ratio (LVR) restrictions in line with the Bank’s financial stability mandate, the central bank says in a statement on its website.

The key points mentioned are:

  • Proposes to remove LVR (loan-to-value ratio) restrictions
  • RBNZ will consult for 7-days before deciding
  • Proposal is in response to the economic downturn caused by the COVID-19 pandemic
  • The move will help banks to keep lending
  • Will monitor lending activity and feedback from retail banks over the next 12 months
  • After that period, to review whether to reinstate LVR restrictions

The

NZD is little changed in immediate response

.

Here is the link to the RBNZ statement:

https://www.rbnz.govt.nz/news/2020/04/reserve-bank-proposes-to-remove-lvr-restrictions

Current indicative levels are:

NZD-USD 0.6020 / 0.6045

NZD-AUD 0.9515 / 0.9540

NZD-EUR 0.5540 / 0.5565

NZD-GBP 0.4840 / 0.4865

NZD-JPY 64.85 / 65.10

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