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Gareth Vaughan

About

Gareth is editor of interest.co.nz and has worked for more than 20 years as a financial journalist in New Zealand and the United Kingdom. He has received awards in the EY Business Journalism Awards, Canon Media Awards, and Shareholders' Association Business Journalism Awards.

Member for

15 years 10 months

Latest articles

$800m 'supervisory adjustment' to ANZ NZ’s minimum regulatory capital requirement
RBNZ enforces $10.1b increase in risk weighted assets on ANZ NZ related to mortgage and farm lending in a move that comes with an $800 mln increase to ANZ NZ's minimum regulatory capital requirements
20th May 19, 5:59pm
by Gareth Vaughan
11
RBNZ enforces $10.1b increase in risk weighted assets on ANZ NZ related to mortgage and farm lending in a move that comes with an $800 mln increase to ANZ NZ's minimum regulatory capital requirements
Final RBNZ bank capital decisions likely in November, with new rules from next April
RBNZ to use external experts and focus groups in next phases of the biggest review of NZ bank capital requirements ever undertaken
20th May 19, 2:18pm
by Gareth Vaughan
2
RBNZ to use external experts and focus groups in next phases of the biggest review of NZ bank capital requirements ever undertaken
Reserve Bank censures ANZ, which is 'disappointed' error occurred
RBNZ revokes ANZ NZ's accreditation to model its own capital requirements due to 'persistent failure' in its controls and attestation, bank must increase minimum capital for operational risk by 60% to $760m
17th May 19, 1:18pm
by Gareth Vaughan
47
RBNZ revokes ANZ NZ's accreditation to model its own capital requirements due to 'persistent failure' in its controls and attestation, bank must increase minimum capital for operational risk by 60% to $760m
Macquarie highlights discrepancies in negative equity reporting across big 4 Aussie banks
Macquarie analysts suggest BNZ's parent National Australia Bank and Westpac NZ's parent the Westpac Banking Corporation may be 'materially understating' their negative equity exposure
17th May 19, 9:57am
by Gareth Vaughan
Macquarie analysts suggest BNZ's parent National Australia Bank and Westpac NZ's parent the Westpac Banking Corporation may be 'materially understating' their negative equity exposure
Liquidator doesn't believe creditors exist
Liquidator of ex-NZ financial service provider Asia Finance Corporation, previously London Capital NZ, doesn't believe four of seven creditors exist
17th May 19, 7:02am
by Gareth Vaughan
2
Liquidator of ex-NZ financial service provider Asia Finance Corporation, previously London Capital NZ, doesn't believe four of seven creditors exist
Kiwibank to phase out use of cheques over 9 months
State owned Kiwibank to become the first New Zealand bank to cull cheques, after 'tipping point' reached with less than 1% of the bank's payments now made by cheque
16th May 19, 2:00pm
by Gareth Vaughan
8
State owned Kiwibank to become the first New Zealand bank to cull cheques, after 'tipping point' reached with less than 1% of the bank's payments now made by cheque
Five observations from Aussie big bank reporting season
The challenges mount for the Australian parents of New Zealand's big four banks
15th May 19, 10:20am
by Gareth Vaughan
The challenges mount for the Australian parents of New Zealand's big four banks
'We've got to do more checking in on people along the way to make sure they're in the right products'
Banks have had to remove incentives linked to sales and are being told to ensure good outcomes for all customers. Here, ANZ, BNZ and Westpac's CEOs talk about how this is progressing
13th May 19, 2:11pm
by Gareth Vaughan
Banks have had to remove incentives linked to sales and are being told to ensure good outcomes for all customers. Here, ANZ, BNZ and Westpac's CEOs talk about how this is progressing
BusinessNZ, the RBNZ capital proposals & where NZ owned banks stand
Business lobby group BusinessNZ is dismissive of the RBNZ's bank capital proposals yet NZ owned banks argue they would bolster their competitive position vs their big Aussie owned rivals. So why the disconnect?
11th May 19, 9:46am
by Gareth Vaughan
13
Business lobby group BusinessNZ is dismissive of the RBNZ's bank capital proposals yet NZ owned banks argue they would bolster their competitive position vs their big Aussie owned rivals. So why the disconnect?
Scott Bartlett, CEO of SOE Kordia, appointed an ASB director
Kordia CEO Scott Bartlett to join ASB's board, bank's chairman talks up Bartlett's experience in cyber security with cyber risk 'one of the most significant threats' for banks
10th May 19, 10:20am
by Gareth Vaughan
Kordia CEO Scott Bartlett to join ASB's board, bank's chairman talks up Bartlett's experience in cyber security with cyber risk 'one of the most significant threats' for banks
ANZ boss pushing for open data rather than just open banking
ANZ NZ CEO David Hisco suggests he won't be personally rushing to embrace open banking as Minister Kris Faafoi awaits 'concrete plans' from banks on how they will provide access to third-parties
9th May 19, 10:43am
by Gareth Vaughan
ANZ NZ CEO David Hisco suggests he won't be personally rushing to embrace open banking as Minister Kris Faafoi awaits 'concrete plans' from banks on how they will provide access to third-parties
Five takeaways from the ANZ NZ, BNZ and Westpac NZ interim results
Gareth Vaughan delves into the big banks' interim financial results noting three are on track for annual profit of more than $1 bln, whilst ANZ could crack $2 bln
7th May 19, 4:50pm
by Gareth Vaughan
Gareth Vaughan delves into the big banks' interim financial results noting three are on track for annual profit of more than $1 bln, whilst ANZ could crack $2 bln
An increase in bank capital is hard to justify, Westpac's David McLean says
Westpac NZ CEO David McLean says NZ banks should hold higher regulatory capital than Australian banks, but it shouldn't be as high as the RBNZ is proposing
7th May 19, 10:00am
by Gareth Vaughan
10
Westpac NZ CEO David McLean says NZ banks should hold higher regulatory capital than Australian banks, but it shouldn't be as high as the RBNZ is proposing
Westpac NZ income rises at twice the pace of expenses & bad debts drop
Westpac NZ half-year profit rises 15% to record high boosted by sale of Paymark stake, solid income growth and drop in bad debts
6th May 19, 10:13am
by Gareth Vaughan
5
Westpac NZ half-year profit rises 15% to record high boosted by sale of Paymark stake, solid income growth and drop in bad debts
BNZ boss eyes ongoing housing market growth as ANZ rival sees quiet market
ANZ NZ CEO David Hisco says Auckland housing market may be in 7-8 year period where it does nothing, as BNZ rival Angela Mentis eyes continued growth of housing lending market share
4th May 19, 10:02am
by Gareth Vaughan
34
ANZ NZ CEO David Hisco says Auckland housing market may be in 7-8 year period where it does nothing, as BNZ rival Angela Mentis eyes continued growth of housing lending market share
If RBNZ capital proposals go ahead BNZ will need to be 'incredibly disciplined about what business we do'
CEO Angela Mentis says if RBNZ capital proposals go ahead BNZ will have to be 'incredibly disciplined about what business we do'
3rd May 19, 9:33am
by Gareth Vaughan
6
CEO Angela Mentis says if RBNZ capital proposals go ahead BNZ will have to be 'incredibly disciplined about what business we do'
'What do kiwis want to pay for an insurance policy to protect against a 1-in-200 year event?'
ANZ NZ CEO David Hisco suggests RBNZ's capital proposals would saddle New Zealanders with an additional $2.4 billion of costs per annum
3rd May 19, 9:30am
by Gareth Vaughan
11
ANZ NZ CEO David Hisco suggests RBNZ's capital proposals would saddle New Zealanders with an additional $2.4 billion of costs per annum
Net interest margin rise helps BNZ to record interim profit, as bank touts mortgage growth
BNZ posts 12% increase in interim profit to $550 mln with income up and expenses & bad debts both falling. Parent NAB says BNZ may need to 'reprice and/or reduce' lending to meet RBNZ capital proposals
2nd May 19, 10:35am
by Gareth Vaughan
1
BNZ posts 12% increase in interim profit to $550 mln with income up and expenses & bad debts both falling. Parent NAB says BNZ may need to 'reprice and/or reduce' lending to meet RBNZ capital proposals
ANZ's Shayne Elliott flags concerns about RBNZ capital proposals
ANZ Group CEO Shayne Elliott says bank can't expect its shareholders to 'unreasonably subsidise' its ambitions in New Zealand if changes to bank regulatory capital requirements are onerous
2nd May 19, 5:00am
by Gareth Vaughan
14
ANZ Group CEO Shayne Elliott says bank can't expect its shareholders to 'unreasonably subsidise' its ambitions in New Zealand if changes to bank regulatory capital requirements are onerous
ANZ NZ half-year profit falls despite higher income, lower expenses & lower bad debts
ANZ NZ half-year net profit after tax drops 4% from last year's record high despite higher income and lower expenses and loan impairments more than halving
1st May 19, 9:55am
by Gareth Vaughan
9
ANZ NZ half-year net profit after tax drops 4% from last year's record high despite higher income and lower expenses and loan impairments more than halving
Time for banks to cut floating mortgage rates
Gareth Vaughan questions whether banks' floating mortgage interest rates can be justified in a low interest rate world
30th Apr 19, 5:05pm
by Gareth Vaughan
5
Gareth Vaughan questions whether banks' floating mortgage interest rates can be justified in a low interest rate world
RBNZ capital proposals threaten serious disruption to big bank shareholders' halcyon days
Gareth Vaughan argues the RBNZ's proposals to increase bank capital requirements could be good for both NZ banking competition and NZ taxpayers
30th Apr 19, 5:00am
by Gareth Vaughan
42
Gareth Vaughan argues the RBNZ's proposals to increase bank capital requirements could be good for both NZ banking competition and NZ taxpayers
NZ Police, Samoan central bank warn of 'Hybrid Ponzi-Pyramid Scheme'
Central Bank of Samoa warns of 'Hybrid Ponzi-Pyramid Scheme' involving cryptocurrency OneCoin after receiving report from NZ Police
26th Apr 19, 10:10am
by Gareth Vaughan
1
Central Bank of Samoa warns of 'Hybrid Ponzi-Pyramid Scheme' involving cryptocurrency OneCoin after receiving report from NZ Police
Tall Blacks' sponsor faces being cleaned out from NZ's Financial Service Providers' Register
Security Placements Holding, a media shy unlicensed New Zealand registered provider of online derivatives services, set to be caught by changes to the Financial Service Providers' Register
25th Apr 19, 9:31am
by Gareth Vaughan
1
Security Placements Holding, a media shy unlicensed New Zealand registered provider of online derivatives services, set to be caught by changes to the Financial Service Providers' Register
RBNZ capital proposals 'not going to be a difficult task' for big 4 banks
Credit rating agency Fitch says ANZ NZ, ASB, BNZ and Westpac NZ 'won't need to do anything extraordinary' to meet RBNZ's proposed increased capital requirements
24th Apr 19, 5:00am
by Gareth Vaughan
2
Credit rating agency Fitch says ANZ NZ, ASB, BNZ and Westpac NZ 'won't need to do anything extraordinary' to meet RBNZ's proposed increased capital requirements