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deposit rates

News Archive - September 2007

3 Sep 2007Banks benefit from finance company problems
Weekly Rate Change Report: One of the outcomes of the current string of finance company collapses is that margins between debentures and bank term deposits may widen to more realistic levels.
4 Sep 2007Money at Work: Yellow Pages Bonds
Money at Work answers a series of set questions about a savings product currently in the market. This one asks the questions of the $150 million Yellow Pages Bond offer.
4 Sep 2007How risky is 11%?
Here's a conundrum for investors. What looks better the Yellow Pages bond offer which will have a minimum yield of 11% or a finance company offering rates somewhere in the 9% range?
4 Sep 2007S&P confirms two ratings
Standard & Poor's has reconfirmed its ratings on South Canterbury Finance (SCF) and Marac after the two companies recently released their annual results.
4 Sep 2007Another finance company down
LDC Finance, a small finance company with around 1000 investors, is the latest casualty in this sector.
5 Sep 2007Yellow Pages pulls offer - for now
Yellow Pages Group has pulled its subordinated bond offer, saying the ongoing financial market volatility made capital raising too difficult.
6 Sep 2007LDC related business fails
A finance business related to LDC, Finance and Investments, has gone into receivership.
7 Sep 2007NZX queries listed structured debt offers
Issuers of listed structured debt offers are being asked by the Stock Exchange how the international credit crunch is impacting on their financial positions.
10 Sep 2007Deposit rate news briefs
Five Star Consumer Finance update, trustee supports changes, Credit crunch letter responses, Govt increase T-Bill tender, More Kauri Notes likely. Comment: Regulation won't save companies (or investors).
10 Sep 2007Banks offering sharp one-year rates
Weekly Rate Change Report: Banks continue to put pressure on finance company rates in the one year maturity term, but are dropping rates for longer durations.
11 Sep 2007Finance company sector woes impact Geneva's S&P rating
Standard and Poor's says it has placed Geneva Finance's B+ credit rating on CreditWatch with negative implications.
12 Sep 2007Deposit takers face new rules
Legislation introducing a tougher regime for non-bank deposit takers -- including small finance companies -- will not be a quick fix to the problems currently plaguing the financial sector, Finance Minister Michael Cullen says.
16 Sep 2007Rabo seeks money for new securities
Money At Work: This week we look at the new perpetual securities offer from Rabo. The rate hasn't yet been set for this offer, but investor demand is huge, partly because of its perceived safety.
17 Sep 2007New competitor for finance company money
Weekly Rate Change Report: The deposit taking sector continues to change rapidly at the moment. As we have reported in recent weeks it has been banks putting pressure on finance companies. Now there is a new force at play.
17 Sep 2007Trustees get new power this week
The government has enacted new rules to ensure trustees will have the tools they need to supervise the activities of finance companies on behalf of investors.
24 Sep 2007Marac's first ranking secured debenture stock
Money at Work: This week we look at Marac's first ranking secured debenture stock.
26 Sep 2007PFG trades on but doubts remain
The beleaguered Propertyfinance Group (PFG) opened for business again on the stock exchange this morning, one month after trading in its shares was halted by the NZX.

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