The following two graphs show you what has been happening to swap rates recently. Swap rates are important as they indicate the cost banks are paying for money to fund their home loans.

Wellington

Brisbane

Wayne "Boris" Becker has taken on a role with Brittania Financial Services - the advisory business run by David Milner which has a strong focus on the UK Pension Transfer market.

Auckland

Nationwide

UPDATED: In another tentative sign banks are starting to gradually ease their lending criteria Kiwibank has made changes to its rates for loans with low equity levels. The changes have been made as the bank has changed the way it insures its mortgage book.

There is a new Banking Ombudsman taking over the reigns.

The Capital Markets Development Taskforce fears the new Financial Advisers Act will fail unless it is accompanied by additional stringent measures to govern the ethical conduct and description of financial advisers. 

Propertyfinance Group in the dark on recoverability of outstanding loans; Interest payments on Fidelity bonds deferred again; SCF board paving the way for Hubbard successor; ABN AMRO ups ante in five- and nine-month TD space.