HSBC's plans to re-grow its mortgage book stalled in the December quarter although its profitability grew strongly, largely as a result of growth in fees and commission income.

The Reserve Bank is considering a number of different tools it might use to moderate credit booms and resulting housing or other asset bubbles but warns none are “a silver bullet.”

Allied Farmers may have to write down a $23 million loan secured by undeveloped land at Silverdale, north of Auckland.

Mortgage holders are questioning why their banks are making them wait between two and three-and-a-half weeks to pass on Reserve Bank governor Alan Bollard's cut in official interest rates to their floating home loan rates.

AMP's life insurance business grew very sluggishly during the December quarter, despite it being the second largest player in the top three product categories.

Aon New Zealand has taken over the client base of Herbert Insurance Group from its receivers.

Standard & Poor's has cut its ratings of Geneva Finance and sister company Quest Insurance from “CCC” to “CC” and put them on negative credit watch.

The life insurance industry blames slowing growth in new business in the December quarter on legislative headwinds, significant merger and acquisition activity, economic uncertainty and the Christchurch earthquake.

The New Zealand Mortgage Brokers Association has bowed to pressure and reduced its annual membership fees, although not as much as some had been calling for.

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.