The Reserve Bank has bowed to pressure from the Commerce Commission, the banks and submitters to parliament’s banking inquiry and will conduct a review of its bank capital requirements.

Westpac gave an apparently contradictory answer as to why it was so slow to pass on the Reserve Bank’s interest rate cut last month to parliament’s finance and expenditure committee’s banking inquiry.

[UPDATED] Insurance advisers need to understand that most insurers will only cover non-Pharmac-funded cancer drugs if they have been approved by Medsafe and also indicated as treatment for the specific type of cancer their client develops.

The cost to a bank of using mortgage advisers to originate mortgages is marginal compared to the cost of running its own proprietary origination operation, according to Kiwibank chief executive Steve Jurkovich.

Heartland Bank is extending its reverse mortgage offering to include a kind of bridging finance for those wishing to buy a unit in a retirement village.

The Reserve Bank’s capital requirements and other regulatory changes have been causing a significant drag on bank lending, according to accounting firm KPMG’s latest survey of financial institutions.

The Reserve Bank’s capital requirements and other regulatory changes have been causing a significant drag on bank lending, according to accounting firm KPMG’s latest survey of financial institutions.

[Opinion] Adrian Orr’s surprise resignation as Reserve Bank governor three years before his current five-year term ends will be celebrated by many observers and likely every Australian-owned bank chief executive and all their senior officers and directors.

The Reserve Bank data has confirmed that Kiwibank is lending at more than twice the rate of its share of the mortgage market while ASB continues to make up for share lost in 2023.

The latest Financial Services Council life insurance statistics show an increase in claims rises outstripped premium increases,

Heartland Group has decided to give up on its digital online-only home loan offering.

Growth in Heartland Group’s reverse mortgages continues at double-digit rates but has slowed from the 2024 financial year from 20% to 15% in the six months ended December.

The government-owned Kiwibank lent on mortgages at the rate of more than twice its market share in the six months ended December.

Trustees Executors is trimming its business back to what it has decided is its “core business” of acting as a corporate trustee and provider of licensed supervision services.

About half of all mortgages will reprice over the next six months, given the recent propensity for borrowers to fix for only six months at a time in the expectation of falling interest rates.

As expected, the Reserve Bank cut its official cash rate (OCR) to 3.75% and signalled further cuts of up to 90 basis points this year but no cuts beyond that.