Your browser is not supported

Our website does not support the browser you are using. For a better browsing experience update to a compatible browser like the latest browsers from Chrome, Firefox and Safari.

Special Note: Prices (M1)

View all Special Notes related to Prices (M1).

Introducing new Government bond

18 March 2024

Today sees the introduction of the newly-issued May 2054 nominal government bond, which settled on 28 February 2024.


Updates to Debt-to-Income data reporting definitions

16 February 2024

We have been working with banks to ensure data reporting will fully align with the definitions specified in the Debt-to-Income (DTI) framework when it becomes operational. In parallel with the current data collection, we have been testing new reporting templates and definitions with banks. We will switch to the revised definitions in upcoming releases once we have undertaken analysis to understand the magnitude of any material differences.

The publication of Debt-To-Income (DTI) tables C40 and C41 on 16 Feb 2024 includes updated reporting for one bank covering the period Oct 2023 to Dec 2023. This bank changed the basis of their reporting in October, ahead of other banks, as they were unable to test forthcoming definition changes in parallel. Our investigations to date have found no material impact on our published aggregate timeseries. We will continue to investigate and analyse the impact on timeseries using the parallel test data received. We will update future publication plans once the impact of definitional changes can be determined.

For more information on the recent DTI Framework changes.


Publication of new web table – S51

31 August 2023

On the 31st August 2023, the RBNZ began publishing a new web table:

  • S51 Banks: Assets – Business loans by asset quality

Data for these tables has been sourced from the bank balance sheet survey.

If you have any questions, please contact [email protected]


Impact of the sale of HSBC’s housing loan book on RBNZ statistics

31 January 2024

On 1st December 2023, HSBC completed the sale of their housing loan book to Pepper Money. This has shifted housing loans from the banking sector to the non-bank lending institutions (NBLI) sector, with series breaks being applied for both sectors for the Dec-23 period in our statistics. The banking sector has seen a decline of approx. $1.055b, while the NBLI sector has risen approx. $1.2b as a result of this sale. The difference between the two amounts relates to undrawn commitments, which are included in the reported values for NBLIs but not for banks. This is because bank and NBLI data, which is published in our C5 web table, are collected from different returns. NBLIs are required to complete our standard statistical return, which reports both drawn and undrawn amounts together, while data for banks is collected from the bank balance sheet return, which separates drawn and undrawn lending. Bank undrawn commitments are excluded from our housing statistics.

In addition to the $1.2b adjustment for NBLI’s, a further $100m break was also applied for Dec-23 due to other reporting adjustments, resulting in an overall break of $1.3b. The break adjustments have not been applied to the stock levels visible in our published statistics, and therefore the figures presented show the actual lending stocks as at the end of each month.

Annual growth rates are break adjusted, with the $245m difference between the bank and NBLI breaks being applied as a break at the total housing level. This has resulted in a slight break adjustment to the housing growth rate for Dec-23.

The impact of the HSBC housing loan book sale has more of an impact at the bank & NBLI level. The following chart compares bank housing lending annual growth rates calculated from the stock figures in our web tables versus when they have been adjusted for the break in the series.

Break adjusted bank housing annual growth rate:

Bank housing lending stock annual growth graph

The same has been shown below for NBLI housing lending annual growth:

Series breaks in housing lending are published separately against our C5, S31, S32 & S33 tables for banks, and against our T1-T31 tables for NBLIs.

The bank balance sheet release for December also includes a key points summary. Some figures in this summary have been break adjusted to account for the housing loan sale in our statistics.

If you have any questions, please contact [email protected]


Revision to the Registered Banks and Non-resident holdings of the May 2028 bond (GB0528)

16 March 2023

There has been a revision to the holdings of the May 2028 (GB0528) bond for January 2023.

$280 million has been reallocated between Registered Banks and Non-resident holdings. This impacts the following tables and series:

D30

  • Nominal bonds
    • Registered Banks
    • Non-residents

D31

  • May 2028
    • Non residents
    • Non-resident %
  • Memo item: Non-residents repo


Revision to the RBNZ Holdings of the April 2023 bond (GB0423)

19 January 2023

There has been a revision to the RBNZ Holdings of the April 2023 (GB0423) bond for October and November 2022 due to a buyback of the bond. $225 million has been reallocated from Non-resident holdings to RBNZ Holdings. This impacts the following tables and series:

D30

  • Nominal bonds
    • Financial Corporations
    • Reserve bank
    • Non-residents
    • Non-residents repo

D31

  • April 2023
    • Total in the Market
    • Non residents
    • Non-resident %
  • Nominal bonds
    • Total in the Market
  • Memo item: Non-residents repo

Incomplete Data

19 December 2022

Due to a technical problem at our end with the introduction of the May 2034 bond, the following bonds were missing from the Non-resident holdings of individual bonds (D31) published on the 16th of December:

  1. May 2026 (GB0526)
  2. May 2028 (GB0528)
  3. May 2032 (GB0532)
  4. May 2051 (GB0551)

We have corrected this mistake and republished the data. We regret the error and apologise for any inconvenience caused.

If you have any questions, please contact us at [email protected].

 

Updated real TWI weights and scale factor

5 May 2023

The Reserve Bank’s real trade-weighted index (TWI) is a weighted average of the New Zealand dollar with the currencies of New Zealand’s major trading partners, adjusted for relative inflation. It is calculated on a monthly basis and published in the B1 table.

Today’s release of the real TWI incorporates two changes:

  1. New real TWI weights and scale factor for 2023.
  2. Updated real TWI weights and scale factor from 1984 to 2022.

The revisions to the real TWI weights from 1984 to 2022 have little impact on the level of the real TWI.

More detail about the TWI methodology can be found in the Reserve Bank of New Zealand Bulletin article, Steenkamp, D (2014) Measuring New Zealand's effective exchange rate.

If you have any questions please contact [email protected].


Changing reporting decimal places

2 May 2022

The publication of exchange rates will change to 5 decimal places. This will align with the spot FX midrates source data (WM/REFINITIV) published by Refinitiv.

Read the guidelines.

If you have any questions please contact [email protected].


Changes to the real TWI

28 February 2022

The Reserve Bank’s real trade-weighted index (TWI) is a weighted average of the New Zealand dollar with the currencies of New Zealand’s major trading partners, adjusted for relative inflation. It is calculated on a monthly basis and published in the B1 table.

Today’s release of the real TWI incorporates two changes:

  1. New real TWI weights and scale factor for 2022.
  2. Updated real TWI weights and scale factor from 1984 to 2021.

The revisions to the real TWI weights from 1984 to 2021 have little impact on the level of the real TWI.

Real TWI (index)

Real TWI (index)

More detail about the TWI methodology can be found in the Reserve Bank of New Zealand Bulletin article, Steenkamp, D (2014) Measuring New Zealand's effective exchange rate.

If you have any questions about these changes, please contact the Statistics team at [email protected].