RBNZ - November Financial Stability Report
Global market conditions continue to affect the cost and accessibility of offshore funding on which the New Zealand banking system relies, says the latest Reserve Bank of New Zealand's Financial Stability Report.
The report notes that over the past two months, even well-rated financial institutions, such as the Australasian banks that dominate the New Zealand banking industry, found it very difficult to borrow in global wholesale markets given the extreme levels of risk aversion among foreign
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