Latest Deposit Rates news

Geneva announces early payment

Geneva Finance’s moratorium repayment of $4.9 million, due on September 30, will be paid on May 8, 22 weeks ahead of schedule, the NZAX-listed vehicle loan provider said.

The September 2010, March 2011, September 2011, March 2012 , September 2012 and March 2013 scheduled debenture principal repayments were also all paid early. Including this payment, Geneva has repaid more than $144 million of investor principal and interest payments since the company entered moratorium in November 2007, owing $132.4 million to investors. Geneva says it has paid $41.1 million in interest at a weighted average interest rate of 10

Non-bank lenders under review

The Reserve Bank has asked for submissions on its review of the prudential regime for non-bank deposit takers (NBDTs).

Allied Farmers may be liquidated

Beleaguered lender Allied Farmers, which faces two separate statutory demands totalling more than $4 million, says it could be put into liquidation if a repayment proposal can’t be agreed on.

NZF payment freeze to continue

NZF Group won’t be resuming interest payments despite the “imminent” lifting of an asset freeze order stemming from a court dispute.

IRD demand adds to Allied’s woes

Allied Farmers has been hit with a second statutory demand in the space of a fortnight, this time by the Commissioner of Inland Revenue for $3.7 million.

BNZ calls in $450m of notes

Bank of New Zealand parent National Australia Bank (NAB) has opted to call nearly $450 million of BNZ Income Securities perpetual shares.

Giant ANZ bond issue to reset

Investors holding more than $800 million of bonds issued by ANZ Bank NZ are about to see the interest rate they receive slashed.

Strategic breaches likely: FMA

The Financial Markets Authority says six directors of Strategic Finance are likely to have breached the Securities Act.
 

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