90 at 9: Parliament attacks NZ's banks; US banks repay bailout money; Fonterra freezes exec salaries

90 at 9: Parliament attacks NZ's banks; US banks repay bailout money; Fonterra freezes exec salaries


Bernard Hickey details the key news overnight in 90 seconds at 9am, including news that Parliament's Finance and Expenditure Committee has criticised New Zealand's banks for not passing on OCR cuts fast enough and wants them to reduce their profits. Meanwhile, 10 of America's biggest banks have repaid some bailout money to reduce government oversight. Some say this is a sign of strength. Meanwhile the New Zealand dollar rose to 62.7 USc overnight and the Dow was flat. Back here, Fonterra has frozen the salaries of its most senior executives.

We welcome your help to improve our coverage of this issue. Any examples or experiences to relate? Any links to other news, data or research to shed more light on this? Any insight or views on what might happen next or what should happen next? Any errors to correct?

We welcome your comments below. If you are not already registered, please register to comment.

Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.