Series breaks in loans by business size
29 November 2024
In October 2024, a couple of registered banks reclassified lending between large and medium size business, totaling approximately $2.6b.
In October 2024, a registered bank reclassified lending from medium business lending to financial institutions, totaling approximately $208m.
If you have any questions, please contact [email protected]
Reclassification in deposits by sector
31 October 2024
In September 2024, a registered bank reclassified deposits from business to the household sector, totaling approximately $2.8b.
If you have any questions, please contact [email protected]
Revisions to historical data
30 August 2024
Today’s publication of Bank Balance Sheet data includes revisions to historical data between March 2024 to June 2024 inclusive, as we now have updated data from our respondents. This has resulted in minor changes to data in:
- C5 Sector lending (banks and non-bank lending institutions)
- C50 Money and credit aggregates (depository corporations)
- C51 Other depository corporations analytical accounts
- C52 Depository corporations analytical accounts
- S10 Banks: Balance sheet
- S30 Banks: Assets – Loans by sector
- S31 Banks: Assets – Loans by purpose
- S32 Banks: Assets – Loans by product
- S33 Banks: Assets – Loans fully secured by residential mortgage by repricing
- S34 Banks: Assets – Loans and Repos by Industry
- S35 Banks: Assets – Loans by business size
- S36 Banks: Assets – Business loans by product
- S40 Banks: Liabilities – Deposits by sector
- S41 Banks: Liabilities – Deposits by industry
- S42 Banks: Liabilities – Deposits by repricing
- S45 Banks: Liabilities – Deposits by size (value)
- S46 Banks: Liabilities – Deposits by size (number)
- S50 Banks: Assets – Loans by asset quality
- S51 Banks: Assets – Business loans by asset quality
Introducing new Government bond
16 May 2024
Today sees the introduction of the newly-issued May 2035 nominal government bond, which settled on 11 April 2024.
Change in accounting policy
31 July 2024
In June 2024 a registered bank made a change in their accounting policy for disclosure of individually impaired assets
If you have any questions, please contact [email protected]
Reclassification in deposits by industry (S41)
27 June 2024
In May 2024, a registered bank reclassified deposits from other financial investment funds to all other financial institutions and depository institutions, totalling approximately $1.2b.
If you have any questions, please contact [email protected]
Unallocated resident loans (S30) and deposits (S40)
30 April 2024
We have experienced larger than normal increases for the March-24 month in the unallocated resident loans (S30) and unallocated resident deposits (S40) buckets.
We expect these figures to be revised in our next publication as we continue working with a respondent regarding the allocations.
If you have any questions please contact [email protected].
Series break in commercial property lending
28 March 2024
In February 2024, a registered bank reclassified lending from residential development to commercial development, totaling approximately $69m.
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:
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]
Series break in commercial property lending
31 July 2024
In June 2024, a registered bank reclassified lending from investment property to commercial property development, totaling approximately $70m.
If you have any questions please contact [email protected]
Unallocated resident loans (S30) and deposits (S40)
30 April 2024
We have experienced larger than normal increases for the March-24 month in the unallocated resident loans (S30) and unallocated resident deposits (S40) buckets.
We expect these figures to be revised in our next publication as we continue working with a respondent regarding the allocations.
If you have any questions please contact [email protected].
Updates to Debt-to-Income data reporting definitions
15 May 2024
We have been working with banks to ensure data reporting will fully align with the definitions specified in the updated 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.
The publication of Debt-To-Income (DTI) tables C40 and C41 on 15 May 2024 includes updated reporting for some banks covering the period Jan 2024 to Mar 2024. These banks changed the basis of their reporting during the Q4 2023 and Q1 2024 period, ahead of other banks, as they were unable to test forthcoming definition changes in parallel.
All banks are required to submit the data on the updated DTI framework from April 2024. We will update future publication plans once the full impact of definitional changes can be determined.
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:
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.
Revisions to NBLI data
31 January 2024 December 2023 publication of C5, T1, T4, T21 and T31 includes revisions to NBLI data dating back to Sep-20 as a result of a review of our survey population for this collection. This has resulted in changes to the data in:
- Sector lending – C5 sector consumer lending for NBLIs with revisions to the annual growth rates. A series break has also been applied to account for the improved coverage to the data collection in Sep-20.
- Non-bank lending institution balance sheet data in tables, T1, T4, T21 and T31.
Revisions to Non-bank lending institutions data
31 July 2023
Today’s publication of non-bank lending institutions data includes revisions to data from March 2022 to May 2023, following the annual review of our non-bank respondents. This has resulted in insignificant changes to data in:
- C5: Non-bank housing, consumer and business lending figures and growth rates.
- T1 – T31: Non-bank lending institutions balance sheet data
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:
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:
- May 2026 (GB0526)
- May 2028 (GB0528)
- May 2032 (GB0532)
- 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:
- New real TWI weights and scale factor for 2023.
- 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.
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:
- New real TWI weights and scale factor for 2022.
- 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)
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].