Gareth Vaughan | interest.co.nz

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

Credit union offers 95% mortgages

NZCU Baywide open for 95% mortgages, increases lending cap to $600,000

6th Jun 18, 9:29am

by Gareth Vaughan

NZCU Baywide open for 95% mortgages, increases lending cap to $600,000

Big banks' profit down quarter-on-quarter

New Zealand's big five banks lift net interest margins in the March quarter as the Dashboard gives & takes

5th Jun 18, 12:31pm

by Gareth Vaughan

New Zealand's big five banks lift net interest margins in the March quarter as the Dashboard gives & takes

'It takes a long time to really change the entire DNA of an industry'

FMA CEO Rob Everett says the financial services sector is at a tipping point and needs to focus on how to make sure customers get a better deal

4th Jun 18, 6:31am

by Gareth Vaughan

FMA CEO Rob Everett says the financial services sector is at a tipping point and needs to focus on how to make sure customers get a better deal

A sea change at the Reserve Bank

Although strictly speaking it's outside the RBNZ's mandate, Governor Adrian Orr introducing a much greater focus on consumer outcomes to the central bank is welcome, Gareth Vaughan says

2nd Jun 18, 7:02am

by Gareth Vaughan

Although strictly speaking it's outside the RBNZ's mandate, Governor Adrian Orr introducing a much greater focus on consumer outcomes to the central bank is welcome, Gareth Vaughan says

Phase 2 of the RBNZ Act review may take 'a number of years to complete'

A look ahead to phase 2 of the RBNZ Act review, a warning to non-bank lenders, a telling off for Westpac, open banking, BKBM & internal models discrepancies

31st May 18, 1:44pm

by Gareth Vaughan

A look ahead to phase 2 of the RBNZ Act review, a warning to non-bank lenders, a telling off for Westpac, open banking, BKBM & internal models discrepancies

Work ahead may test view no inquiry into NZ financial services is needed, FMA & RBNZ say

FMA's Rob Everett says review of bank conduct & culture shows plenty that could be done better but so far no evidence of systemic misconduct

30th May 18, 2:00pm

by Gareth Vaughan

FMA's Rob Everett says review of bank conduct & culture shows plenty that could be done better but so far no evidence of systemic misconduct

'No evidence of the systemic problems that prompted the Australian inquiry'

Ministers Robertson & Faafoi say they will meet with the RBNZ & FMA regularly as their work programme on financial services sector conduct and operations develops

30th May 18, 7:47am

by Gareth Vaughan

Ministers Robertson & Faafoi say they will meet with the RBNZ & FMA regularly as their work programme on financial services sector conduct and operations develops

BNZ 'constantly evaluating options for the delivery of banking services including mainframe technology & physical location'

RBNZ says its revised outsourcing policy should prevent a repeat of BNZ's weekend service loss, starting from September 2022

30th May 18, 5:00am

by Gareth Vaughan

RBNZ says its revised outsourcing policy should prevent a repeat of BNZ's weekend service loss, starting from September 2022

'Banks will feel more under scrutiny'

RBNZ's head of prudential supervision Toby Fiennes hopes this week's Dashboard launch will make banks feel that they're under more scrutiny

28th May 18, 3:03pm

by Gareth Vaughan

RBNZ's head of prudential supervision Toby Fiennes hopes this week's Dashboard launch will make banks feel that they're under more scrutiny

BNZ's bad weekend

BNZ service loss, blamed on parent NAB, raises questions about its implementation of RBNZ's outsourcing policy & closely follows RBNZ stating foreign controlled banks must acknowledge they are operating in NZ & the responsibilities this implies

28th May 18, 10:40am

by Gareth Vaughan

RBNZ outlines its role in banking conduct & culture

RBNZ's Adrian Orr says foreign controlled banks must acknowledge they operate in NZ, acknowledge the home-host regulator relationship & have a long-term focus

25th May 18, 2:03pm

by Gareth Vaughan

RBNZ's Adrian Orr says foreign controlled banks must acknowledge they operate in NZ, acknowledge the home-host regulator relationship & have a long-term focus

ANZ NZ borrows NZ$500 mln through bond issue

ANZ NZ five-year bonds to pay investors 3.70% per annum

24th May 18, 3:24pm

by Gareth Vaughan

ANZ NZ five-year bonds to pay investors 3.70% per annum

NZBA now pushing written employer references rather than bad conduct register

Bank lobby group quickly backs away from idea it floated earlier this month of establishing a bad conduct register for naughty financial services workers

24th May 18, 10:52am

by Gareth Vaughan

Bank lobby group quickly backs away from idea it floated earlier this month of establishing a bad conduct register for naughty financial services workers

RBNZ details five potential unconventional monetary policy tools

RBNZ says possibility of needing unconventional monetary policy tools 'higher than it ever was in history' meaning it needs to be ready just in case

24th May 18, 7:56am

by Gareth Vaughan

RBNZ says possibility of needing unconventional monetary policy tools 'higher than it ever was in history' meaning it needs to be ready just in case

Govt should 'reduce the need for major banks to provide uneconomic services'

Macquarie analysts suggest Australasia's under fire major banks could save hundreds of millions of dollars by slashing branch numbers by 40%

23rd May 18, 1:40pm

by Gareth Vaughan

Macquarie analysts suggest Australasia's under fire major banks could save hundreds of millions of dollars by slashing branch numbers by 40%

New BNZ executive appointments include Russell Jones joining from ASB

Senior ASB executive Russell Jones shifting to BNZ to become executive general manager for technology and operations

23rd May 18, 1:10pm

by Gareth Vaughan

Senior ASB executive Russell Jones shifting to BNZ to become executive general manager for technology and operations

Commerce Commission wants compensation for Harmoney borrowers

Judge rules Harmoney's platform fee is a credit fee, doesn't accept the 'relative novelty of peer-to-peer lending should preclude the usual application of the CCCFA'

21st May 18, 10:31am

by Gareth Vaughan

Judge rules Harmoney's platform fee is a credit fee, doesn't accept the 'relative novelty of peer-to-peer lending should preclude the usual application of the CCCFA'

BNZ cooperating with MBIE's Labour Inspectorate to resolve Holidays Act issues

BNZ working with MBIE to resolve Holidays Act breaches which include annual and public holiday payments to 'certain employees'

21st May 18, 9:43am

by Gareth Vaughan

BNZ working with MBIE to resolve Holidays Act breaches which include annual and public holiday payments to 'certain employees'

Global debt reaches fresh record high

New IMF Global Debt Database details 'cutting-edge dataset' covering private and public debt for 190 countries dating back to the 1950s

19th May 18, 9:06am

by Gareth Vaughan

New IMF Global Debt Database details 'cutting-edge dataset' covering private and public debt for 190 countries dating back to the 1950s

BNZ using incorrect unutilised credit limits on some loans for 15 years

BNZ unveils two breaches of banking registration that mean it has been overstating its capital adequacy ratios and has restated them, discloses big restructuring provision

18th May 18, 12:43pm

by Gareth Vaughan

BNZ unveils two breaches of banking registration that mean it has been overstating its capital adequacy ratios and has restated them, discloses big restructuring provision

How will our insurers stack up if there's a financial services inquiry?

Any NZ inquiry into the conduct of the financial services sector will require a lengthy and deep probe into the insurance sector, Gareth Vaughan argues

15th May 18, 4:10pm

by Gareth Vaughan

Any NZ inquiry into the conduct of the financial services sector will require a lengthy and deep probe into the insurance sector, Gareth Vaughan argues

'The outlook is getting tougher & the long shadow of the Royal Commission is hanging'

Australasia's big banks have come to the end of a super cycle and face a difficult transition featuring a combination of operating headwinds and regulatory risks, analysts say

15th May 18, 12:41pm

by Gareth Vaughan

Australasia's big banks have come to the end of a super cycle and face a difficult transition featuring a combination of operating headwinds and regulatory risks, analysts say

Explicit depositor protection called for in RBNZ Act review

Financial consultant Geof Mortlock calls for deposit insurance to be introduced in NZ, and for a new regulator to takeover the RBNZ's financial regulation responsibilities

14th May 18, 10:09am

by Gareth Vaughan

Financial consultant Geof Mortlock calls for deposit insurance to be introduced in NZ, and for a new regulator to takeover the RBNZ's financial regulation responsibilities

'People fight harder for a share of a smaller pie'

Housing mortgage rates are more likely to go down rather than up despite increased US dollar funding costs for New Zealand banks

12th May 18, 9:22am

by Gareth Vaughan

Housing mortgage rates are more likely to go down rather than up despite increased US dollar funding costs for New Zealand banks

FMA & RBNZ 'came across as rather desperate'

FMA and RBNZ's response to revelations from Australian financial services Royal Commission appear 'rather desperate' and 'driven by being seen to be doing something'

11th May 18, 1:47pm

by Gareth Vaughan

FMA and RBNZ's response to revelations from Australian financial services Royal Commission appear 'rather desperate' and 'driven by being seen to be doing something'