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

16 years

Latest articles

The squeeze goes on the big five banks

Big banks' net interest margins take a hit in the March quarter with cost-to-income ratios also under some pressure

2nd Jun 17, 9:44am

by Gareth Vaughan

Big banks' net interest margins take a hit in the March quarter with cost-to-income ratios also under some pressure

'The issue is specific to Kiwibank'

Kiwibank 'deconsolidates' bond issuing vehicle at a cost of $1.1 mln to resolve capital standoff with the RBNZ

1st Jun 17, 4:39pm

by Gareth Vaughan

Kiwibank 'deconsolidates' bond issuing vehicle at a cost of $1.1 mln to resolve capital standoff with the RBNZ

RBNZ 'closely monitoring' lending growth at small banks

The RBNZ notes small banks have doubled their share of new mortgage commitments since 2014, and that rapid lending growth carries risk

1st Jun 17, 9:47am

by Gareth Vaughan

The RBNZ notes small banks have doubled their share of new mortgage commitments since 2014, and that rapid lending growth carries risk

A debt-to-income ratio above 5 - 'that's pretty high'

RBNZ gives clearest signals yet how and where it could pitch a debt-to-income ratio restricting tool for mortgage borrowers, and which type of borrowers would be targeted

31st May 17, 12:19pm

by Gareth Vaughan

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RBNZ gives clearest signals yet how and where it could pitch a debt-to-income ratio restricting tool for mortgage borrowers, and which type of borrowers would be targeted

Directors of Kiwibank funding vehicle changed to placate the RBNZ

No early repayment of 2 Kiwibank bond issues worth a combined $250 mln that are no longer regarded as capital by the RBNZ

30th May 17, 10:24am

by Gareth Vaughan

No early repayment of 2 Kiwibank bond issues worth a combined $250 mln that are no longer regarded as capital by the RBNZ

UDC investors offered 'success-based participation fee' for key takeover vote

UDC Finance depositors offered financial incentive to vote at key meeting ahead of proposed sale of the finance company to HNA Group by ANZ

29th May 17, 5:02pm

by Gareth Vaughan

UDC Finance depositors offered financial incentive to vote at key meeting ahead of proposed sale of the finance company to HNA Group by ANZ

Westpac NZ must repay NZ$900m to parent

Westpac NZ's repayment requirement stemming from an APRA directive bounces back up to NZ$900 mln after halving to NZ$500 mln

29th May 17, 3:41pm

by Gareth Vaughan

Westpac NZ's repayment requirement stemming from an APRA directive bounces back up to NZ$900 mln after halving to NZ$500 mln

Would-be new UDC owner doesn't expect higher funding costs

TIP Trailer Services boss Bob Fast on the plans for NZ's biggest finance company UDC under new, Chinese ownership

26th May 17, 5:02am

by Gareth Vaughan

TIP Trailer Services boss Bob Fast on the plans for NZ's biggest finance company UDC under new, Chinese ownership

Incoming Aussie bank levy could be increased

Deutsche Bank analysts suggest the Australian Government's bank levy may be hiked given it's set to raise less money than expected

25th May 17, 12:46pm

by Gareth Vaughan

Deutsche Bank analysts suggest the Australian Government's bank levy may be hiked given it's set to raise less money than expected

Singapore's Fullerton distances itself from New Zealand's Fullerton

'Investors and customers [should] properly assess the businesses from whom they procure goods or services, and do not presume similar names are necessarily related'

23rd May 17, 5:11pm

by Gareth Vaughan

'Investors and customers [should] properly assess the businesses from whom they procure goods or services, and do not presume similar names are necessarily related'

Housing & healthcare seen as key Budget issues

Poll suggests New Zealanders view housing and healthcare as the two key issues for Finance Minister Steven Joyce to address in this week's Budget

23rd May 17, 12:25pm

by Gareth Vaughan

Poll suggests New Zealanders view housing and healthcare as the two key issues for Finance Minister Steven Joyce to address in this week's Budget

Big drop in BNZ's March quarter net interest margin

BNZ March quarter profit slides 26% as expenses grow 4% and operating income falls 16%, breaches banking registration

22nd May 17, 4:18pm

by Gareth Vaughan

BNZ March quarter profit slides 26% as expenses grow 4% and operating income falls 16%, breaches banking registration

This week's Top 10

Gareth Vaughan & David Chaston with charts, charts & more charts; Auckland house prices, gold, Basel & the mortgage boom, 5,000 years of interest rates, credit default swaps & more

19th May 17, 10:02am

by Gareth Vaughan

Gareth Vaughan & David Chaston with charts, charts & more charts; Auckland house prices, gold, Basel & the mortgage boom, 5,000 years of interest rates, credit default swaps & more

Strong nine months for Heartland Bank

Heartland Bank's price-to-earnings ratio and dividend yield both at comparable levels to those of the major Australian banks

19th May 17, 9:52am

by Gareth Vaughan

Heartland Bank's price-to-earnings ratio and dividend yield both at comparable levels to those of the major Australian banks

Fitch affirms Kiwibank's AA credit rating

Kiwibank AA rating affirmed but credit ratings agency sees capital ratios staying low relative to domestic and some international peers over the next 2 years

19th May 17, 9:27am

by Gareth Vaughan

Kiwibank AA rating affirmed but credit ratings agency sees capital ratios staying low relative to domestic and some international peers over the next 2 years

ASB March quarter NIM falls 11 basis points

ASB's March quarter profit grows 21% with solid growth in operating income and lower expenses

18th May 17, 9:53am

by Gareth Vaughan

ASB's March quarter profit grows 21% with solid growth in operating income and lower expenses

ASB's 9-year non-compliance with banking registration rules

Nine-year breach of banking condition relating to capital didn't cause ASB to breach any of its required minimum capital ratios, the bank says

18th May 17, 7:02am

by Gareth Vaughan

Nine-year breach of banking condition relating to capital didn't cause ASB to breach any of its required minimum capital ratios, the bank says

RBNZ seeks submissions for housing, household debt & policy conference

RBNZ asks for 'theoretical and empirical papers' on housing, household debt and policy ahead of December conference

17th May 17, 12:00pm

by Gareth Vaughan

RBNZ asks for 'theoretical and empirical papers' on housing, household debt and policy ahead of December conference

Is NAB the happiest Australian shareholder of a major NZ bank?

IMF chart shows BNZ, by one profitability measure, performing the best for its parent out of NZ's four Australian owned banks

17th May 17, 11:48am

by Gareth Vaughan

IMF chart shows BNZ, by one profitability measure, performing the best for its parent out of NZ's four Australian owned banks

Three options on how the big Aussie banks could respond to the bank levy

Now that the Australian bank levy cookie jar is open, UBS analysts probe whether the banks should push back hard, share the pain or roll over

16th May 17, 11:39am

by Gareth Vaughan

Now that the Australian bank levy cookie jar is open, UBS analysts probe whether the banks should push back hard, share the pain or roll over

ANZ NZ pushes ahead with APRA repayment directive

ANZ NZ ahead of schedule in repaying parent NZ$8 bln worth of inter-company loans

16th May 17, 11:30am

by Gareth Vaughan

ANZ NZ ahead of schedule in repaying parent NZ$8 bln worth of inter-company loans

'Pandora's Box has been opened'

UBS bank analysts point out Australia's big 5 banks are likely stuck with their new A$6.2b tax and it could get worse for them; 'Substantial risk to the Australian housing bubble'

15th May 17, 10:01am

by Gareth Vaughan

UBS bank analysts point out Australia's big 5 banks are likely stuck with their new A$6.2b tax and it could get worse for them; 'Substantial risk to the Australian housing bubble'

The RBNZ, an ambulance at the bottom of the prudential regulatory cliff?

The IMF criticises the RBNZ's idiosyncratic light handed regulation of NZ's banks, but notes effective supervision requires political will as a catalyst and adequate resources

13th May 17, 10:28am

by Gareth Vaughan

The IMF criticises the RBNZ's idiosyncratic light handed regulation of NZ's banks, but notes effective supervision requires political will as a catalyst and adequate resources

'Separate retail payments network ownership from usage'

Xero argues retail payments network ownership should be removed from major users as it was in the electricity and telecoms industries

12th May 17, 4:02pm

by Gareth Vaughan

Xero argues retail payments network ownership should be removed from major users as it was in the electricity and telecoms industries

It's time to end the madness

Gareth Vaughan argues it's time to ban offshore trust and company service providers from NZ activities, licence local ones, and hold them to account if their clients break the law

10th May 17, 2:16pm

by Gareth Vaughan

Gareth Vaughan argues it's time to ban offshore trust and company service providers from NZ activities, licence local ones, and hold them to account if their clients break the law