Moody’s notes improvement in NZ banking industry outlook (New Zealand’s National Business Review)

Moody’s Investors Service has changed its outlook for the New Zealand banking industry to stable from negative. The credit rating company said the change reflected New Zealand’s steady recovery from its mild recession between January 2008 and March 2009. The major banks still had significant funding wholesale requirements, at around 40% of total funding, and the four major banks were well under …

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