New Zealand
New Zealand opens ESAS application process to all interested entities
New Zealand opens ESAS application process to all interested entities
In general, applications will be assessed in the order they were received.
Australia, New Zealand propose reforms on AT1 capital rules
New Zealand wants to remove AT1 capital and introduce more granular standardised weights for credit risk.
New Zealand seeks feedback on liquidity framework and new CLF
It proposes changes for open market operations, such as reducing the max tenor.
New Zealand to reopen ESAS applications in September
It is open to payment service providers, overseas deposit takers, and designated FMI operators.
NZ banks have ‘strong capital and liquidity buffers’ to maintain credit flows
Risks have risen, but the banks remain profitable and bad loans will decline.
New Zealand’s central bank governor resigns
Christian Hawkesby will serve as acting governor until 31 March 2025.
Airwallex expands into New Zealand
It appointed Lowry Gladwell as associate director of New Zealand.
Reserve Bank of New Zealand calls for increased efforts in financial inclusion
According to the World Bank, around 50,000 New Zealanders remain unbanked.
New Zealand's credit and charge card payments market to reach $39.6b by 2028
This is thanks to the consumer shift towards electronic payments.
Chart of the Week: NZ card payments to reach $75.1b by 2028
The market is expected to grow at a compound annual growth rate of 4.1%.
Australia, NZ retail banks face tougher headwinds
Both loans and deposits will see increased competition.
Chart of the WeekL 1 in 2 e-commerce purchases in New Zealand use payment cards
Cash accounted for just 3% of all e-commerce payments.
Payment firm Nium now a registered financial service provider in New Zealand
It plans to offer virtual accounts, and debit and prepaid cards, amongst other services.
Card payments in New Zealand to grow 6.5% in 2023:GlobalData
It will reach about NZ$102.4b.
New Zealand banks to persevere amidst inquiry by Commerce Commission: S&P Global
The banks, Australia-owned, hold a total market share of 85%.
New Zealand picks Citi in banking services panel
Other new panel members are ANZ Bank and Westpac.
HSBC winding down wealth, personal banking business in New Zealand
The bank can no longer justify investing into this business, it said in a statement.
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