A review of things you need to know before you go home on Monday; retail rate increase silence, Kiwibank's capital plan, AMP's new adviser manager, wholesale rate slippage

Here are the key things you need to know before you leave work today.

MORE CAPITAL NEEDED
The owner of Kiwibank, NZ Post, is considering making an offer of up to $100 million of unsecured subordinated Capital Notes to the New Zealand public to bolster the growing capital requirements of the bank. Kiwibank is still the most leveraged of all the local retail banks despite a long term effort to reduce the leverage.

SOLVING RATHER THAN DIVERTING
The Government will reallocate $24 million to a new project that encourages land owners in the Lake Rotorua catchment to switch to low nitrogen land uses or find other ways to reduce the amount of nitrogen polluting the lake water. The previous diversion plan is being abandoned.

TODAY'S TERM DEPOSIT RATE CHANGES
The small Heretaunga Building Society raised its 3 month term deposit to 3.40%. Then Fisher & Paykel Finance raised all its rates from 18 months to 5 years by +25 bps, and its 12 month rate by +15 bps. After the increase they are not as rate competitive as ANZ, except for the 12 month term. Most institutions are holding back, ignoring the OCR rise last Thursday

NO MORTGAGE RATE CHANGES TODAY
The silence after Thursday's OCR hike is eery. Only ANZ and ASB have moved to far.

LEADING WITH DIFFERENT SKILLS
AMP's financial adviser network which is the nations largest with over 600 advisers has a new boss - Richard Brown has been appointed out of the telecommunications industry.

WHOLESALE RATES LOWER
Swap rates slipped 2 and 3 bps today in response to softer international bond yields. The 90 day bank bill rate is dropped one bp today to 3.29%.

OUR CURRENCY
The NZ dollar fell slightly today following the weekend trend to international risk aversion, and trending down as the day has progressed. The NZD is now at 85.7 USc and 92.4 AUc. The TWI is at 79.8.

A LOT OF RAIN