The International Monetary Fund (IMF) has declared New Zealand’s banking system to be resilient, but nevertheless recommended ways to improve the strength of the country’s financial sector and the regulatory framework.
In releasing the findings from its Financial Sector Assessment Programme (FSAP) overnight, the IMF said that the banking system is well-placed to manage risks and vulnerabilities associated with current developments in the housing sector, the high level of household debt, and low dairy prices. The FSAP included a range of ‘stress tests’ of the large New Zealand banks.
The report states that New Zealand has a good institutional framework for macroprudential policy and that LVR restrictions have generated financial stability benefits, although it could be strengthened further. They also recognise a number of important positive features about the Reserve Bank’s supervisory framework, including the strong Trans-Tasman relationships.
Recommendations for improvements include increasing the intensity of supervision for both the banking and insurance sectors, within the Reserve Bank’s “three-pillar” approach to prudential regulation that is based on self, market and regulatory discipline.
The IMF has endorsed the Reserve Bank’s current legislative proposal to improve the regulation and oversight of financial market infrastructures, as well as the importance of reviewing the bank capital framework.
The Reserve Bank is considering the FSAP findings and recommendations in its areas of responsibility and the degree to which these might further its statutory purpose of promoting a sound and efficient financial system.
A forthcoming article in the Reserve Bank Bulletin will explain the 2016 FSAP process and its findings and recommendations in more detail.
More information:· Financial Sector Assessment Programme· IMF Financial System Stability Assessment· Minister of Finance’s media statement· Financial Markets Authority media statement· IMF web page
| A RBNZ release || May 09, 2017 ||
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Ξ IMF releases New Zealand FSAP findings and recommendations
Ξ Manuka Health unveils $3.5 million Wairarapa Apiculture Centre
Manuka Health has officially opened its expanded national apiculture business after a $3.5million build that will significantly expand the organisation’s export capacity.
Joining CEO John Kippenberger, the Minister for Food Safety Hon David Bennett opened the Manuka Health Wairarapa Apiculture Centre in an event attended by MP for the Wairarapa, Alastair Scott; Mayor John Booth of Carterton District Council; Chief Executive of Carterton District Council, Jane Davis; industry and government representatives; neighbours; beekeeper partners; site design and build companies; and Manuka Health staff.
At the event Minister Bennett planted the last of 2,000 native plants that complete the build; a symbolic Manuka tree representing the future of the industry.
Manuka Health CEO John Kippenberger says investment in the Centre’s expansion is an important milestone in the company’s growth, ongoing product quality and traceability assurance, and its commitment to the Wairarapa community.
“Manuka Health is proud to invest in the region and play our part in the local and national beekeeping sector. The Wairarapa Apiculture Centre employs 27 people during peak season with the Centre’s expected growth in processing capacity seeing up to 15 more employees join over the next two years.
“The Centre plays a crucial role in providing a secure and efficient passage for our products. It’s a hub for the extraction and collection of honey from more than 20,000 hives that will come in for processing from Northland, Waikato, Taranaki and Wairarapa during the next season. The Centre ensures our consumers in cities such as Frankfurt, Beijing, San Francisco and London can have absolute confidence that the product they are buying has been treated with care and under strictly controlled conditions right from the hive.
“The capital investment in the Centre’s build facilitates a substantial expansion in honey extraction capability. This is another step in our journey to help New Zealand meet its $1.2bn target of honey sales by 2028,” says Mr Kippenberger.
The Wairarapa Apiculture Centre collects and extracts honey from honey frames. Honey boxes from around the North Island are sent to the Centre for honey extraction and drum storage during the November to March harvest each year. The drums are then freighted to Manuka Health in Te Awamutu for testing and packaging.
The Wairarapa Apiculture Centre expansion follows Manuka Health’s opening of a new $10 million manufacturing facility in Te Awamutu, a largescale integrated facility of operations, testing, quality and distribution.
| A Manuka Health release || May 09, 2017 |||
| Auckland - May 2017 | Local engineering company reaps the benefit from investing in extended software training with CADPRO Systems following their purchase of new CNC machinery.
Training keeps staff fit for purpose
At Howick, whenever we sell a customer a new framing machine, we strongly recommend that they undertake specialist software training to get the most out of their investment. Even if the buyer is familiar with current machine use, there are always things that you can learn to be more productive. While some customers might baulk at ongoing training costs, we believe that investing in your operators and providing refresher courses, can only lead to improved productivity and output.
We practise what we preach
We decided to put our money where our mouth is when we recently purchased two new CNC machines. Although our operators had previously taken part in CNC training and our design team had been using SOLIDWORKS since 1998, we signed up with the supplier for training.
Even before the equipment arrived, we arranged for the team to do some initial training for HSM Works - the CAM package that integrates our designs to the machining centres. What we soon realised is that there was a lot of tooling and work holding to understand, as well as how our design effects the machining process.
Training and support
When the machines arrived, our two main operators received the standard training which, as anticipated with any new technology, was something of a steep learning curve. Once we had been running for a few weeks, we realised that there was still a knowledge gap which would only be closed through further training.
While we were having regular contact and great support from the team at HAAS Factory Outlet NZ, CADpro (HSM Works) and Sandvik Tooling, we wanted to accelerate our learning curve even faster. Understanding that we had already invested a significant amount in tooling, software, PCs and the machines themselves, we decided it was time to look at investing in our people more.
This involved getting a member of the team from CADpro in 1 day a week for 6 weeks to help us with on-the-job training. Although a significant cost, the value of the exercise can be easily seen through the accelerated learning and production it provided.
Our team got a massive boost from learning on live jobs with the trainer and were able to continue production during the week, noting down queries for the trainer to help resolve at the next session. This meant the team could keep moving forward with confidence. A great example of this is that through training, we have improved the engraving time from 27 minutes to 47 seconds on our Haas ST35 machine.
Keep up the good work
As a business, one thing we have always done since we started using Solidworks is take the yearly 1 day update course to look at new features. We find that the most valuable part of the day is when we roll out our list of things that are challenging or annoying us and receiving immediate resolutions.
The cost of sending our design team offsite for a day is quickly recouped in efficiency gains.
For us, investing in additional training was quickly recouped when you consider we achieved full production in 3 months, vs the anticipated 18 months.
Howick - here to help
For those looking at investing in a Howick FRAMA Roll Forming machine, or existing customers looking to get more out of their machine, I would suggest you talk to your chosen software partner about what they can offer training-wise to get the most out of your investment.
We have recently employed Davy Binois (a former employee at Vertex in the UK) who has trained many of our European customers. He is now New Zealand based so that we can upskill our local customers through tailored training and process development specifically related to our products.
The speed at which technology is moving is unprecedented and the adage ‘You don’t know what you don’t know,’ is more relevant now than ever. At Howick, we know our proprietary machines inside out and what capabilities they can offer. If you want to ensure your machines and staff are operating at full capacity, get in touch, and we’ll recommend a course of action – 0064 9 534 5569. www.howickltd.com
For our Customers elsewhere in the world our software partners Tekla, Strucsoft and Vertex can offer local training or remote training.
Palace of the Alhambra, Spain
By: Charles Nathaniel Worsley (1862-1923)
From the collection of Sir Heaton Rhodes
Oil on canvas - 118cm x 162cm
Valued $12,000 - $18,000
Offers invited over $9,000
Contact: Henry Newrick – (+64 ) 27 471 2242
Mount Egmont with Lake
By: John Philemon Backhouse (1845-1908)
Oil on Sea Shell - 13cm x 14cm
Valued $2,000-$3,000
Offers invited over $1,500
Contact: Henry Newrick – (+64 ) 27 471 2242