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deposit rates

News Archive - December 2010

1 Dec 2010Fisher & Paykel Finance sees securitisation revival
Fisher & Paykel Finance has experienced a revival in demand in the securitisation market in recent months, although it still isn't back to pre-crisis levels, says managing director Alastair Macfarlane.
2 Dec 2010Dorchester scores an own goal
Dorchester Pacific has landed an own goal with its low-ball offer to buy back notes issued as part of its rescue plan earlier this year.
3 Dec 2010The charges against: Five Star Consumer Finance and Five Star Finance
The following is details of the case referred by Securities Commission to National Enforcement Unit of Ministry of Economic Development for prosecution against Five Star Consumer Finance and Five Star Finance Group.  
3 Dec 2010The charges against: Bridgecorp
The following is details of the case referred by Securities Commission to National Enforcement Unit of Ministry of Economic Development for prosecution against Bridgecorp and Bridgecorp Investments.  
3 Dec 2010The charges against: National Finance
The following is details of the case referred by Securities Commission to National Enforcement Unit of Ministry of Economic Development for prosecution against National Finance directors  
3 Dec 2010The charges against: Capital + Merchant Finance
The following is details of the case referred by Securities Commission to National Enforcement Unit of Ministry of Economic Development for prosecution against Capital + Merchant.  
3 Dec 2010Lombard Finance & Investments
3 Dec 2010Dominion Finance Group and North South Finance
3 Dec 2010Fendal Finance
3 Dec 2010The charges against: Nathans Finance
The following is details of the case referred by Securities Commission to National Enforcement Unit of Ministry of Economic Development for prosecution against Nathans Finance directors  
6 Dec 2010RBNZ grants exemptions to finance companies
The Reserve Bank of New Zealand granted three key exemptions to UDC Finance from the new regulations applicable to non-bank deposit takers that came in to effect on December 1.
6 Dec 2010Rates Round Up: Dec 6
RaboBank's BankaRate deposits snapped up in 24 hours; Infratil returns to bond market; Moody's assigns rating to BNZ covered bonds.
6 Dec 2010Banks innovate in short-term rates
After a week’s breather, short-term deposit rates from banks came under focus once again but this time it is for a short period.
7 Dec 2010Another finance company shuts up shop
In a further sign of the times, finance company Savings & Loans has all but shut up shop, having repaid all its debenture holders last week and withdrawing its prospectus.
8 Dec 2010Powerco bucks trend in securing bank debt
Electricity and gas lines company Powerco seemed to be bucking the trend when it announced it was replacing a maturing bond sold to retail investors with bank debt.
9 Dec 2010Capital + Merchant directors face SFO charges
The Serious Fraud Office (SFO) has arrested one current and one former director of Capital + Merchant Finance.
9 Dec 2010Standard & Poor’s lowers Broadlands Finance credit rating
Broadlands Finance has had its long-term counterparty credit rating reduced from ‘B’ to ‘BB-/B’ by Standard & Poor’s and its outlook held on negative, with ratings analyst Peter Sikora  citing Broadlands “weak liquidity position, vulnerable funding profile and high-risk loan portfolio.”
13 Dec 2010Rates Round Up: C+M directors to fight charges
Hubbard supporters lobby MPs; Capital + Merchant directors vow to fight charges; Credit Sails probed.  
16 Dec 2010Broadlands expected to show dramatically improved result
Broadlands Finance's September half-year accounts will show a dramatically improved position from March 31 because of the different attitude to assessing impaired loans taken by its new auditor.
21 Dec 2010Prison for former Five Star directors
Two former Five Star Finance directors, Nicholas Kirk and Marcus MacDonald, have been sentenced to prison terms at Auckland District Court today.
22 Dec 2010Broadlands terribly frustrated with S&P
Broadlands Finance's strategic shift towards commercial lending was part of Standard & Poor's rationale for cutting its credit rating from "BB-" to "B" earlier this month.
23 Dec 2010Deloitte steps down as Equitable receiver
Deloitte has stepped aside as receivers of Equitable Mortgages after missing a conflict of interest with their audit team during the tender process.
24 Dec 2010Ratings downgrade for Oxford Finance
Standard & Poor's had lowered its long term counterparty credit rating on Electra Group subsidiary Oxford Finance Corp (OFC) from "BBB-" to "BB."
30 Dec 2010Finance coys cut costs, lifted interest margins: KPMG
Finance companies surveyed by KPMG cut costs dramatically and lifted their interest margins by nearly two percentage points in the latest year.

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