BANKS

[Waltzing]

MONEY MONEY MONEY --- in SWEDISH and sounds a lot better than the plain old ENGLISH versions..

https://www.youtube.com/watch?v=t-0nFtnlY7k

[Waltzing]

Now they just need standards for transaction recording for financial institutions ... IE brokers...mortages , loans ect...

https://www.interest.co.nz/technology/127953/open-banking-threatening-finally-gather-some-pace-new-zealand-worldline-online

[Waltzing]

ANZ bank profits up for quarter...   https://www.interest.co.nz/banking/127986/new-zealands-biggest-bank-produces-eye-watering-quarterly-profit

"ANZ, the country's biggest bank booked a $642.3 million profit after tax in the March quarter, according to the latest update of the Reserve Bank's Bank Financial Strength Dashboard.

That's the most the bank has made in a quarter at least since the dashboard was introduced six years ago, and is almost certainly its most profitable quarter ever.

Before tax ANZ's March quarter profit weighed in at $899.5 million, just shy of $10 million per day.

The March after tax figure compares to $491.2 million in the March 2023 quarter, $412.5 million in the December 2023 quarter, and the previous high of $620 million in the June 2022 quarter.

So why was ANZ's March 2024 quarterly profit so high? A big trading and hedging gain, and miniscule impaired asset expense certainly helped."

[Waltzing]

More rural news ..

https://www.interest.co.nz/rural-news/128000/three-two-down-terms-whether-five-major-rural-lenders-are-growing-or-shrinking

[Waltzing]

 debt to GDP is at its highest point since ...https://fortune.com/2024/04/28/global-debt-crisis-world-gdp-napoleonic-wars-us-debt-bond-yields/

[Waltzing]

They are saying SOFT landing in the US ....

But has NZ already landed and the RNBZ needs like many institutions in NZ to be privatised and closed down...

Surely they are panicing or soon will be as they imposed their 17 percent (near enough) capital ratios that will force banks to hold huge amounts of T1 capital ... and Dervan wants more insurance ... right ...

how can you possible run moentary policy on data that is out of date...

Surely they need a gaint AI model that can simulate an economy ...  HUGE AI model ... on a really BIG HIVE ...

Doctor Allan Cat back n the 1980-'s at dinners parties (all the rage in thos days) used to tell me as a young eager accounting software clerk they had a computer model of the economy at Auckland university...

RBNZ must be using the same one ...

but if they had been using this they might be on top of data ...

https://en.wikipedia.org/wiki/Simula

Europe ...  those nordics ... cant beat them ...

https://www.cnbc.com/2024/07/11/cpi-inflation-report-june-2024.html

[Waltzing]

could be the bargains here if there is a run on the banks... another QTR link that one and the RBNZ will have to open the overnight window for the banks for cash to keep the tills running...

[Ferg]

Smartshares ASF (Oz banks) closed above $10 earlier this month for the first time.

https://finance.yahoo.com/quote/ASF.NZ/

[Waltzing]

yup the buy backs for ANZ and WBC rewarded holders .....

DISC: holding ANZ

[Waltzing]

https://www.rbnz.govt.nz/-/media/project/sites/rbnz/files/publications/financial-stability-reports/2023/nov-2023/fsr-nov-23-box-c.pdf

[Waltzing]

bets on went a rate move ...

November?

https://www.interest.co.nz/personal-finance/128991/anz-cuts-floating-fixed-home-loan-rates-business-base-rates-and-some-term

[Waltzing]

https://www.interest.co.nz/economy/129002/global-capital-markets-are-truly-enormous-gigantic-ocean-capital-washes-over-us-and

[Waltzing]

sta sta sta stag stagflation...

https://www.cnbc.com/2024/09/10/jamie-dimon-says-the-worst-outcome-is-stagflation-a-scenario-hes-not-taking-off-the-table.html

[Waltzing]

is the rbnz making excess profits at your expense...


https://www.interest.co.nz/banking/130137/reserve-bank-pay-597-million-dividend-governor-adrian-orr-gets-pay-cut-staff-numbers

could the RBNZ be automated?
 

[BlackPeter]

is the rbnz making excess profits at your expense...


https://www.interest.co.nz/banking/130137/reserve-bank-pay-597-million-dividend-governor-adrian-orr-gets-pay-cut-staff-numbers

could the RBNZ be automated?
 

Nice - this could pay for the Patience and two more boats to sink plus the Dunedin hospital ... or maybe we could sink less boats and buy Nicolas Toyotas to avoid the next Cooks Strait Ferry disaster?

Can we automate the RBNZ? Probably, but then we wouldn't have a scapegoat anymore, wouldn't we?
Bad move. We need a scape goat.