Banking Statistics - March quarter 2017
Release date : 29th May, 2017
Key facts
For the March quarter 2017:
- Net foreign assets is 136.1 million for all banks surveyed in the March quarter 2017.
- Total lending for the March quarter 2017 sat at $292.3 million.
- The money supply decreased by 4.9 per cent overall
- Interest rates remained stable this quarter except for 3 month fixed term deposits for CSB which increased form 0.20 percent to 0.85 percent and Personal loans rate for BCI fell from 13.5 percent to 12.5 percent– see table 4
More Information about Banking Statistics
Aggregates are compiled from the Banking Survey which covers the Four commercial banks in the Cook Islands: ANZ, Westpac, Bank of the Cook Islands (BCI) and Capital Security Bank (CSB). The Cook Islands does not have a Central Bank and uses the NZ Dollar as its currency.
Narrow Money (M1) consist of Notes and Coins in circulation and Demand Deposits. M2 consist of narrow money (M1) and quasi money (savings, demand and term deposits), Net foreign position of the banks, Net domestic credits.
Transactions are valued in accordance to international standards.
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