Major banks have passed on rate cuts of 0.75% to floating rate borrowers following the Reserve Bank's emergency rate decision.

The Reserve Bank's decision to lower the official cash rate to 0.25% is good news for borrowers, but advisers fear Covid-19 will significantly slow activity in the housing market.

The Reserve Bank has delayed the introduction of new capital rules for the banking sector in the wake of the coronavirus outbreak. 

Economists believe the Reserve Bank will be reluctant to cut the OCR any further after it slashed rates by 75 basis points this morning. 

The Reserve Bank has made an unprecedented emergency rate cut of 75 basis points in the wake of the coronavirus crisis. Here's what the central bank said this morning:

Newpark, which lost its chief executive last week, has appointed two new directors.

Newpark Financial Services chief executive Melanie Purdey has resigned from her role with the company.

Financial Advice New Zealand’s learning and development manager is moving to a new role at the Insurance and Financial Services Ombudsman Scheme.

AIA New Zealand is the first insurer in New Zealand to be awarded the YWCA Gender Tick.

People acting as trustees on family trusts face major changes and have very little time to get ready for them, Perpetual Guardian general counsel Henry Stokes says.

Dealer groups have stepped up preparations for the new regulatory regime by applying for their financial advice provider licences.

Financial adviser Barry Kloogh has pleaded guilty.