The Reserve Bank today reduced the official cash rate (OCR) from 8.25% to 8.00%.

Hanover Finance has suspended acceptance of new investments and repayment of existing deposits as it worked with trustees on a plan to restructure the business going forward.

Wellington

Christchurch

Various

Palmerston North

Two of the Australian Cymbis funds have missed their debenture repayment dates.

Pyne Gould Corp-owned finance company MARAC set the interest rate on its NZ$100 million bond sale at 10.50%.

New Plymouth

Aus-NZ mutual recognition on agenda; Suncorp A+ rating affirmed; New Morningstar methodology; An opportunity to diversify.

Debenture holders in Capital & Merchant Finance will recover no more than 8% of their investment in the failed firm, less than originally estimated, according to receivers Grant Thornton.

DepositRates.co.nz has compiled a table showing the rates on offer from the various PIE funds.