The Reserve Bank of New Zealand has proposed that banks should hold between 20% and 60% more capital on their balance sheets, a move likely to increase borrowing rates and put more pressure on major lenders.
Non-bank lender Resimac is set to change the way it handles customer credit assessments, looking at "credit events", rather than individual listings. The move will make it easier for customers with previous credit issues to access financing.
The Treasury has followed the Reserve Bank and pushed back its prediction for the next OCR hike. The Treasury now expects the OCR will tighten from the 2020/2021 financial year, as New Zealand's major institutions forecast a lower-for-longer rate environment.
Mortgage adviser group Squirrel has launched an innovative product to help first home buyers get on the property ladder.
Following a wave of criticism in the Royal Commission, Australian mortgage advisers have launched a fightback against industry reform.
BNZ is looking to lure first home buyers with a new shared ownership scheme, the first of its kind in New Zealand.