Banking Statistics – December Quarter 2020

Feb 10, 2021 | Economic Statistics, Banking Statistics

Key facts

For the December Quarter 2020:

  • Net foreign assets is $277.1 million for all banks surveyed in the December quarter 2020.
  • Total lending for the December quarter 2020 sat at $279.1 million.
  • The money supply decreased by 17.1 percent overall
  • Interest rates remained stable this quarter 2020 except for ANZ rates which reverted to March Quarter 2020 figures.

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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