Legislation introducing a tougher regime for non-bank deposit takers -- including small finance companies -- will not be a quick fix to the problems currently plaguing the financial sector, Finance Minister Michael Cullen says.

Wellington

Hastings

Invercargill

The government has accepted proposals by the Securities Commission to give trustee companies improved tools to supervise finance companies on behalf of investors.

Palmerston North

Standard and Poor's says it has placed Geneva Finance's B+ credit rating on CreditWatch with negative implications.

Dunedin

Spicers' latest Household Savings Indicators show the net worth of the average New Zealand household increased by $8,700 during the June 2007 quarter and reached $375,200, up $40,800 for the year.

Claims at Southern Cross Medical Care Society were $418 million in the 12 months to 30 June 2007, a $20 million increase over the prior financial year.

The New Zealand Mortgage Brokers Association named its top brokers for 2007 at its annual conference in Rotorua on the weekend.

Weekly Rate Change Report: Banks continue to put pressure on finance company rates in the one year maturity term, but are dropping rates for longer durations.

Five Star Consumer Finance update, trustee supports changes, Credit crunch letter responses, Govt increase T-Bill tender, More Kauri Notes likely. Comment: Regulation won't save companies (or investors).

Dunedin

Wellington