The deepest recession in more than 30 years has failed to dent New Zealanders' appetite for KiwiSaver, according to the latest update by the tax department.

The threat of receivership hanging over embattled finance company St Laurence Ltd. probably won't spill over to St Laurence Property & Finance, according to Kevin Podmore, a director of both companies.

Auckland

Bank of New Zealand is being coy on whether it plans to start dealing with mortgage brokers again.

S&P dishes out investment grades to Genesis Energy bonds; Guardian Trust expects two more repayments to investors in mortgage fund; Bond prices on the rise as government note maturity floods market, ASB; Deposit war goes long as ANZ boosts three, four- and five-year terms.

Pyne Gould settles funds management deal; TOWER opens offices: Options portfolio hits five-year mark.

This week one industry problem pretty much came to an end, while another possibly got a new lease of life.

An increase in the amount that can be borrowed under the government-funded Welcome Home Loan mortgage insurance scheme has been approved.

AMP New Zealand’s operating earnings for the six months to June 30, fell 15% to A$23 million (or 9% in New Zealand dollar terms), largely due to higher surrenders resulting from the re-pricing of the term risk book in 2008, aggressive competition, and the weak New Zealand economy.

The past week has seen two trends. The main one is for long term home loan rates to rise. The other is for a couple of lenders to drop their floating and short-term rates.

Marac's aspirations of transforming into a bank have become difficult following its downgrade by Standard & Poor's last week, according to one of the rating agency's analysts.