The Co-operative Bank

Whilst it may monitor banks' OCR pass through data, the FMA acknowledges banks have no legal obligation to pass on changes as most appear to pad floating mortgage rate margins

Whilst it may monitor banks' OCR pass through data, the FMA acknowledges banks have no legal obligation to pass on changes as most appear to pad floating mortgage rate margins

The Co-operative Bank CEO Mark Wilkshire puts a spotlight on floating mortgage rates, where his bank is the outlier

The Co-operative Bank CEO Mark Wilkshire puts a spotlight on floating mortgage rates, where his bank is the outlier

BNZ is back with more home loan rate increase tweaks, and some higher term deposit rates, completing a week of industry-wide rises under pressure from wholesale rate changes

BNZ is back with more home loan rate increase tweaks, and some higher term deposit rates, completing a week of industry-wide rises under pressure from wholesale rate changes

ASB is the next major bank to adjust fixed rates and they have been more restrained in their moves than Westpac or ANZ. ASB also reprised a 5% TD rate. Kiwibank follows with their own rate hikes

ASB is the next major bank to adjust fixed rates and they have been more restrained in their moves than Westpac or ANZ. ASB also reprised a 5% TD rate. Kiwibank follows with their own rate hikes

Apart from the post-pandemic 'normalisation', we seem to be starting an upward phase for fixed home loan rates, one we haven't seen since late 2016

Apart from the post-pandemic 'normalisation', we seem to be starting an upward phase for fixed home loan rates, one we haven't seen since late 2016

What plans, if any, do the small NZ-owned banks have where open banking's concerned?

What plans, if any, do the small NZ-owned banks have where open banking's concerned?

Cuts to savings account interest rates have started with one bank cutting less than the OCR reduction

Cuts to savings account interest rates have started with one bank cutting less than the OCR reduction

Commerce Commission and Co-operative Bank reach settlement over unreasonable fees self reported by the bank

Commerce Commission and Co-operative Bank reach settlement over unreasonable fees self reported by the bank

Tracking the changes to savings accounts after the OCR rate cut, including the Notice Savers

Tracking the changes to savings accounts after the OCR rate cut, including the Notice Savers

ANZ is the first mover after the -50 bps OCR cut, passing on -40 bps to floating rate borrowers, Westpac only passes on -30 bps, ASB & BNZ go -30 bps too. By Kiwibank it is -35 bps

ANZ is the first mover after the -50 bps OCR cut, passing on -40 bps to floating rate borrowers, Westpac only passes on -30 bps, ASB & BNZ go -30 bps too. By Kiwibank it is -35 bps

Rate cut announcements to savings accounts have started to flow with the six banks advising changes so far, ranging from no-change to -30 bps

Rate cut announcements to savings accounts have started to flow with the six banks advising changes so far, ranging from no-change to -30 bps

The Cooperative Bank kicks off the latest round of floating home loan rate reductions with matching cuts to variable rates and savings account rates. ANZ follows with a lesser cut, Westpac too. Now Kiwibank

The Cooperative Bank kicks off the latest round of floating home loan rate reductions with matching cuts to variable rates and savings account rates. ANZ follows with a lesser cut, Westpac too. Now Kiwibank

To understand bank profitability, it helps to understand the net interest margin. Banks are commodity businesses and small margin movements make a big difference. Big is always better in any commodity business

To understand bank profitability, it helps to understand the net interest margin. Banks are commodity businesses and small margin movements make a big difference. Big is always better in any commodity business

Rate cut announcements to savings accounts have started to flow with the first from ANZ who passed through the full -25 bps cut. ASB only cuts -20 bps

Rate cut announcements to savings accounts have started to flow with the first from ANZ who passed through the full -25 bps cut. ASB only cuts -20 bps

BNZ jumped the gun with a -25 bps floating rate cut, ANZ, ASB only cut -20 bps, and now Westpac only passes on -15 bps of the OCR cut, as does Kiwibank

BNZ jumped the gun with a -25 bps floating rate cut, ANZ, ASB only cut -20 bps, and now Westpac only passes on -15 bps of the OCR cut, as does Kiwibank