That's a great article, thanks for sharing. Ruth is an awesome journalist - not many business reporters in her league.
I don't know much about the deposit takers insurance and I think its still a WIP but it's clear somebody's gotta pay for it - banks, bank customers in the form of higher borrowings, or probably both. A good initiative I reckon for the resilience of the banking sector, but at a cost to borrowers & banks.
No doubt a cost to depositors as well. I.e. your first $200k deposit we will pay x-1% and on anything above that we will pay x%
We got a new logo on Sharesies today, exciting development haha...
yeeha
El Nino a bit of a bugger for StockCo (not my favourite subsidiary of HGH). Things getting hot already in AU w/ farmers selling off / culling livestock earlier than normal, means less funding requirements & interest income for stockco all things equal.
yep if you read all the asx bank type stock reports they are all saying nim 's under pressure , competition intense. cant see why NZ would be any different
Heard from senior management of Top retail NZ bank ...he was saying economy and consumers viz a viz bank business are doing much worse then expected at this moment ...was predicting we already in recession and next 6 months prospects pretty dim from bank's point of view .
Heard from senior management of Top retail NZ bank ...he was saying economy and consumers viz a viz bank business are doing much worse then expected at this moment ...was predicting we already in recession and next 6 months prospects pretty dim from bank's point of view .
We wanted the recession to curb inflation. That is the story I remember was told to us. I just don’t remember who mentioned it. Maybe Adrian Orr from the Reserve Bank.
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