Banking Statistics – December quarter 2021

Dec 18, 2021 | Banking Statistics

Key facts

For the December Quarter 2021:

  • Net foreign assets increased to 331.5 when compared to the September quarter.
  • Total lending for the December quarter 2021 sat at $253.3 million.
  • The money supply decreased by 1.6 per cent for the December quarter
  • Interest rates remained stable for most of the banks reported except for BCI Term rates increasing from 2.63 per cent to 2.75 per cent and BSP home loans owner occupied decreasing from 8.25 to 7.50 per cent.

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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