ASB Bank's mortgage book shrank for the third successive quarter in the three months ended September but profitability rose on a surge in net interest income.

Geneva Finance is asking holders of its debt securities to convert them into equity so it can avoid receivership.

The receivers of Allied Nationwide Finance (ANF) have put specific performing loans up for sale and are also seeking expressions of interest for performing loans held by Spiers Securities which they also administer.

Reserve Bank governor Alan Bollard delivered a large boost to confidence by aggressively slashing interest rates in reaction to the devastating Christchurch earthquake.

Allan Hubbard's Aorangi's assets should realise between $87 million and $97 million, less costs, compared with the $96 million owed investors, the statutory managers say.

The value of Hubbard Management Funds (HMF) fell by $7.2 million to $48.8 million in the four months to January 31, the statutory managers say.

A verified register of Equitable Mortgages due to get their money back under the government guarantee will go to Treasury within “a week or two, tops,” says receiver Grant Graham of KordaMentha.

Economists are divided on whether Reserve Bank governor Alan Bollard will keep interest rates on hold, make a small cut or a big cut in response to the Christchurch earthquake and the still sluggish economy.

Former Nathans Finance director John Hotchin has been fined $200,000 and sentenced to 11 months home detention and 200 hours community service after pleading guilty to making false and misleading statements.

Downer EDI's senior bondholders won't be getting higher interest because international ratings agency Fitch has affirmed its “BBB-” investment grading rating and changed its outlook to stable.

Standard & Poor's has cut NZF Money's credit rating to “CCC,” citing its weakened liquidity position and questioning its ongoing viability.

Westpac's New Zealand mortgage book probably grew somewhere between $50 million and $80 million in the three months ending December.

NZF Group expects many more of its noteholders will opt to rollover their investment into new notes rather than accept shares.

SBS Bank's mortgage book swelled in the three months ended December, reflecting its take over of fellow co-operative Hastings Building Society.

Allied Farmers says it has written down the former Hanover assets by a further $12.62 million.

ANZ Bank's share of the mortgage market probably continued to slide in the December quarter even as a big drop in charges for bad loans boosted profitability.