The New Zealand Financial Markets Association’s recently published debt capital market guidelines give participants a roadmap to greater clarity and best practice, particularly for new and infrequent issuers. The guidelines are part of the association’s push to develop New Zealand’s debt market, making it more inclusive.
New Zealand’s official cash rate will likely hit 4 per cent, but a range of domestic and global factors will dictate how long it stays elevated. The impact of a higher rate on the country’s economy, however, is unclear – particularly as interest rate risk remains to the upside, according to economists.
Australian nonbank lenders have long discussed the potential alignment of the type of lending they do with social-bond funding. As the first local issuer to bring an all-social residential mortgage-backed securities deal, Pepper Money says the value of the platform is primarily about the opportunity this type of funding offers for future development of lending product.