Financial intermediation beyond the banks : recent developments

Release date
Vol. 66. No. 2. June 2003
Clive Thorp
The New Zealand financial system is dominated by banks, whose assets are well over 90 per cent of those of all deposit-taking institutions. Banking groups also own fund management businesses, with more than a quarter of all funds under management. However, the activities of savings institutions, finance companies, the non-institutional market and independent fund managers are important, notwithstanding their relatively reduced role. This article discusses developments in non-bank financial institutions and markets over recent years.