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HiFX Data Update - RBNZ Financial Stability Report

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The RBNZ has just released its Financial Stability Report.

The key points in report are:

  • Reserve Bank of NZ stability review says financial system risks have eased, but remain high
  • Slower mortgage lending growth and house price inflation have reduced risk.
  • RBNZ are to ease LVR’s from start of 2019:
  • Banks able to provide 20% (from 15%) of new owner-occupier loans to owner-occupier borrowers with less than 20% deposit
  • Banks able to provide 5% of new investor loans to investors borrowers with less than 30% (lowered from 35%)
  • High debt and asset prices mean the global economy remains vulnerable to shocks
  • High debt levels mean NZ households remain vulnerable to financial risk
  • Recent slower mortgage lending growth has reduced financial risk somewhat
  • Banks need to better manage their conduct risk and lend responsibly
  • Longer term, financial firms need to manage risks from climate change
  • Preliminary view that higher capital requirements are necessary
  • Will reassess whether banking system has enough capital to weather future extreme shocks
  • Domestic banking system remains sound
  • Mortgage credit growth and house price inflation have eased to more sustainable rates
  • The NZD is slightly higher in immediate response.

Current indicative levels are: NZD-USD 0.6780 / 0.6805NZD-AUD 0.9385 / 0.9410NZD-EUR 0.6000 / 0.6025NZD-GBP 0.5320 / 0.5345NZD-JPY 77.15 / 77.40 Please call for further information or pricing. Below is the link to the full RBNZ statement and report: RBNZ Governor Orr will hold a press conference at 11am, followed by a testimony before Parliament Select Committee at 1:00pm today.

Please call for further information or pricing.


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  • Source: A XE release