News Archive - May 2008

6 May 2008	Commission planning to prosecute finance companies The Securities Commission says that investigations into collapsed finance companies are progressing well and it is likely that proceedings will be laid against some companies.
8 May 2008	Billion dollar booby but finance company sector fights on, RBNZ finds Finance company failures to date could see direct losses to investors of just over $1 billion, according to Reserve Bank Financial Stability Report published yesterday.
12 May 2008	SCF looks to raise another $100 mill South Canterbury Finance is looking to raise up to $100 million through a secured bonds offer.
13 May 2008	Fairview bites the dust Another part of the Capital + Merchant group has been placed into receivership. This time it is Fairview New Zealand (formerly Cymbis) that has gone under.
14 May 2008	Dominion puts S&P on hold Dominion Finance has postponed its attempt to secure a rating from international research firm Standard & Poors (S&P) until market conditions in the sector improve, according to CEO, Paul Cropp.
19 May 2008	SCF's bond issue gets rating Standard & Poor's has assigned a BBB- issue rating on the proposed South Canterbury Finance $75 million secured bond offer.
28 May 2008	Belgrave down Belgrave Finance has chosen to go into receivership, rather than seek a moratorium like other companies have done.
28 May 2008	C+M investors looking at getting 10% back Investors in failed finance company Capital + Merchant may get back less than 10 cents in the dollar, the receivers say.

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Find a Rate

Cash PIE Rates

Institution	Rate	33%	39%
ANZ	3.00	3.09	3.22
ASB Bank	3.15	3.29	3.44
BNZ	3.66	3.82	3.92
Direct Broking Call Account	2.80	2.92	3.05
First Mortgage Trust	5.01	5.23	5.66
Forsyth Barr	3.50	3.66	3.95
Forsyth Barr	3.25	3.40	3.67
Forsyth Barr	2.75	2.87	3.10
Forsyth Barr	2.50	2.61	2.82
HSBC Premier	2.20	2.26	2.36
Kiwibank	2.40	2.50	2.61
Kiwibank	3.15	3.29	3.44
Marac	4.50	4.73	4.95
National Bank	3.00	3.13	3.27
Nelson Building Society	3.75	3.90	4.08
RaboDirect	3.40	3.54	3.70
SBS Bank	3.20	3.90	4.08
TSB Bank	3.75	3.90	4.07
UDC Investments	3.00	3.12	3.26
Westpac	3.00	3.13	3.27

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