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deposit rates

News Archive - October 2009

1 Oct 2009SCF loss less than first announced
South Canterbury Finance says its loss for the 12 months to June 30 is less than previously announced.
2 Oct 2009Auditors tag SCF accounts on funding worries
Auditors for South Canterbury Finance have tagged the troubled Timaru finance company's accounts, warning that if looming US dollar debt and private debenture funding is not secured, the viability of the business is uncertain.
6 Oct 2009Dorchester looks to do deal with debenture holders
Listed financial services company Dorchester is looking to do a deal with the debenture holders in its finance company to get going again.
6 Oct 2009RBA rate hike won’t damp deposit rate war
The Reserve Bank of Australia’s rate hike is unlikely to damp the intense competition in term deposits, as New Zealand interest rates remain more attractive than those across the ditch.
7 Oct 2009Fixed income investors need to go long for returns
Short term cash rates are likely to remain low for some time, with those investors seeking higher yields forced to start "moving out along the yield curve", according to ING NZ.
9 Oct 2009Bond issue to halt the brain robbery
The University of Canterbury plans to raise up to $100 million for major capital projects through New Zealand's first listed philanthropic bond issue.
13 Oct 2009SBS rules out finance company acquisitions
SBS, the bank that grew out of the Southland Building Society, has ruled out mopping up any failed finance companies as it looks to take advantage of any acquisition opportunities in the coming year.
13 Oct 2009National Bank removes wide range of fees
The National Bank has announced across-the-board fee removals and reductions, as part of a wide-ranging fees review, benefiting customers by about $30 million a year.
13 Oct 2009Auckland Airport set to offer $125 million in bonds
Auckland International Airport is looking to offer up to $125 million worth of bonds to the public later this month, to cover maturing debt.
14 Oct 2009Guardian Trust told to improve compliance
Complaints laid following the restructure of the Guardian CashPlus Fund have been found by the Securities Commission not to be material, although the firm has been cautioned to improve compliance.
15 Oct 2009GE Money prepares to enter deposit and credit card markets
GE Money has confirmed it is keen to become a player in the credit card and deposit space, but is refusing to "lock in" a start date.
22 Oct 2009Regulations not a quick fix for Non Banks
Reserve Bank Governor Alan Bollard says that  the forthcoming non-bank deposit taking prudential regulations will not be a quick fix for the industry.
28 Oct 2009New team at Viaduct Capital shake off past prospectus issues
Viaduct Capital, the finance company that was suspended by the government's deposit guarantee scheme earlier this year, has had a shake-up in its management team that has seen Bruce McKay and Richard Blackwood take over the reins.
28 Oct 2009Credit Union Baywide gets BB rating; ponders Govt guarantee
Credit Union Baywide has been granted a strong enough credit rating to apply for the government's extension to the retail deposit guarantee, but has yet to make a final decision on whether it will sign up to the scheme.
29 Oct 2009ANZ and National Banks take the lead in deposit rate war
ANZ and National Banks have taken the lead in the deposit rate war, boosting their returns on terms for 12 months or more.

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