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Recent developments in New Zealand's financial stability

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Author Info

  • Micahel Gordon
  • Leslie Hull
  • Clive Thorp

    (Reserve Bank of New Zealand)

Abstract

This article assesses the current state of, and threats to, financial stability in New Zealand. It does this against a backdrop of continued softness in global growth and in corporate credit quality abroad. It concludes that New Zealand's financial sector has remained resilient despite continued global economic weakness, and there do not appear to be any immediate concerns for financial stability locally. Banks are well capitalised, with sound asset quality and strong parent banks, and corporate credit quality remains satisfactory. New Zealand household leverage is high by the standards of many countries, though not by comparison with some of the more advanced economies of the OECD. While household gearing and debt servicing payments have remained stable, highly indebted households are vulnerable to interest rate volatility.

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Bibliographic Info

Article provided by Reserve Bank of New Zealand in its journal Reserve Bank of New Zealand Bulletin.

Volume (Year): 66 (2003)
Issue (Month): (September)
Pages:

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Handle: RePEc:nzb:nzbbul:september2003:1

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References

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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  1. Lauren Rosborough, 2001. "Trends in foreign exchange trading," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 64, December.
  2. Clive Thorp, 2002. "Developments in credit markets over two decades," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 65, June.
  3. Clive Thorp & Bun Ung, 2001. "Recent trends in household financial assets and liabilities," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 64, June.
  4. Clive Thorp, 2003. "Financial intermediation beyond the banks: recent developments," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 66, June.
  5. Denys Bruce, 2002. "Developments in the New Zealand banking industry," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 65, June.
  6. Aron Gereben, 2002. "Extracting market expectations from option prices?," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 65, March.
  7. Shahla Motadel, 1996. "Credit ratings: opinions on credit quality," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 59, June.
  8. Geof Mortlock & Ian Woolford, 2003. "Financial sector assessment programme," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 66, March.
  9. Ian Woolford, 2001. "Macro-financial stability and macroprudential analysis," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 64, September.
  10. Dr Don Brash, 2002. "An indebted people," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 65, March.
  11. Micahel Gordon & Leslie Hull & Clive Thorp, 2003. "Recent developments in New Zealand's financial stability," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 66, September.
  12. Michael Reddell & Ian Woolford & Sean Comber, 2001. "International capital flows, external debt, and New Zealand financial stability," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 64, December.
  13. Robert St Clair & Christine Tether & Bruce White, 1998. "The intermediation of international capital flows," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 61, June.
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Cited by:
  1. Micahel Gordon & Leslie Hull & Clive Thorp, 2003. "Recent developments in New Zealand's financial stability," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 66, September.

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