B5 Interest rates on funding and claims

Released
28 February 2017 03:00 p.m.
Source
Reserve Bank of New Zealand
Periodicity
Monthly
Funding Spread Claims
Date 1
Previous years:
Jan 2015 3.76 2.25 6.01
Jan 2016 2.92 2.38 5.30
Monthly:
Feb 2016 2.86 2.40 5.26
Mar 2016 2.73 2.44 5.17
Apr 2016 2.63 2.49 5.12
May 2016 2.62 2.46 5.08
Jun 2016 2.59 2.44 5.03
Jul 2016 2.64 2.39 5.02
Aug 2016 2.62 2.30 4.92
Sep 2016 2.57 2.32 4.89
Oct 2016 2.51 2.38 4.89
Nov 2016 2.48 2.35 4.83
Dec 2016 2.44 2.30 4.74
Jan 2017 2.43 2.34 4.76
  1. Figures exclude foreign currency funding, which accounts for approximately 21% of total registered bank funding as at December 2015. NZD funding costs also exclude the impact of hedging, for example interest rate swap costs incurred against fixed rate claims.

The Data: Coverage, Periodicity, and Timeliness

Coverage characteristics

Since December 2004, the Bank has conducted a monthly survey of registered banks.

Data is sourced from the Registered Bank Standard Statistical Return (SSR).

B5 provides an indication of registered banks weighted average New Zealand dollar cost of funding and claims.

The figures exclude foreign currency funding, which accounts for approximately 21% of total registered bank funding at December 2015. New Zealand dollar funding costs also exclude the impact of hedging, for example interest rate swap costs incurred against fixed rate claims.

Periodicity

Monthly

Timeliness

On or before the last business day of the month after the end of the reference month.

Access by the public

Statistics release calendar

The Statistics Release Calendar is updated and released on the last business day of the month. This is a long-term plan of scheduled releases.

Integrity

Dissemination of terms and conditions under which official statistics are produced, including confidentiality of individual responses

Data are collected under Section 36 of The Reserve Bank of New Zealand Act 1989 (The Act).

The Reserve Bank of New Zealand publishes only aggregated data. Individual institutional data is confidential.

Provision of information about revisions and advance notice of major changes in methodology

Provisional data are italicised. Data are deemed provisional when a series is under review. New data, or revised data, are in bold font. Revisions are generally published when the table is next due to be updated and released. Should revisions need to be made more promptly, a note is posted on the website as a ‘special note'.

Any major changes in methodology are posted on the website as a special note.

Quality

Dissemination of documentation on methodology and sources used in preparing statistics

All registered banks provide data on a monthly basis.

An excel template is completed and returned each month by registered banks

Dissemination of statistics that support statistical cross-check and provide assurance of reasonableness

Disclosure statements published by registered banks offer checks for reasonableness. Links to registered bank websites can be found in the Banks section of this site.

Interest rates of NZ dollar funding and claims

For New Zealand dollar funding and claims (private and public sector) a weighted cost of funding and claims is obtained from each respondent and aggregate weighted costs of funding and claims are computed. The difference between these two figures is the ‘spread’.

Figures exclude foreign currency funding, which accounts for approximately 21% of total registered bank funding at December 2015. NZD funding costs also exclude the impact of hedging, for example interest rate swap costs incurred against fixed rate claims.

The Reserve Bank has been working with registered banks since mid-2015 to develop a new registered bank balance sheet collection that will replace the existing Standard Statistical Return (SSR).

In March 2017 the SSR will be retired and the publication of the following tables will be discontinued:

B5

Interest rates on funding and claims

C1

Monetary aggregates

C2

Credit aggregates

C3

Monetary and credit aggregate components

C4

Balance sheet of M3 institutions

C5

Sector credit

C6

Household credit

C17

Household deposits

S1

Banks: Balance Sheet ($m)

S6

Banks: Funding by sector ($m)

S7

Banks: Claims by sector ($m)

S8

Banks: Mortgage lending ($m)

In the first week of April 2017 we will publish data from the new balance sheet collection for the first time. Our first publication is aimed at replacing key data currently published from the SSR. Later in 2017 we plan to publish other more detailed data collected from the new balance sheet collection.

More in depth information on the new balance sheet data can be viewed on our statistics news and updates page www.rbnz.govt.nz/statistics

If you have any questions, please contact us at stats-info@rbnz.govt.nz.

28 February 2017

Symbols and conventions

0 Value rounded to zero
- Zero or not applicable
.. Not available
bold Revised/new
italics Provisional

General notes

  • Individual figures may not sum to the totals due to rounding
  • Percentage changes are calculated on unrounded numbers
  • You are free to copy, distribute and adapt these statistics subject to the conditions listed on our copyright page.