Financial Stability Report for May 2019

2019年5月金融稳定报告

2019/05/29 05:04
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对照中文英文原文
金融体系的风险仍然很高,在过去六个月基本没有变化。现在是时候通过提高资本水平和应对行为挑战来提高金融系统的弹性和效率。

Some households and dairy farms are over indebted

一些家庭和奶牛场负债累累

Some New Zealand households and dairy farms would face financial problems if their incomes fell or costs rose because they have high debt levels. Banks would face large losses if households and dairy farms defaulted on their loans at the same time as house prices and farm prices were falling. The risk of this happening is small but it is possible.

如果由于债务水平高而收入下降或成本上升,一些新西兰家庭和奶牛场将面临财务问题。如果家庭和奶牛场在房价和农场价格下跌的同时拖欠贷款,银行将面临巨大损失。发生这种情况的风险很小,但这是可能的。

The risk has not changed much in the past six months.

过去六个月风险并没有太大变化。

LVR policy settings remain appropriate for now

LVR政策目前仍然适用

The Reserve Bank imposes loan-to-value ratio (LVR) restrictions on banks’ mortgage lending to improve the resilience of households and banks. The LVR restrictions are reviewed every six months.

储备银行对银行的抵押贷款实行贷款与价值比率(LVR)限制,以提高家庭和银行的抵御能力。 LVR限制每六个月审查一次。

Slower growth in household debt and house prices, alongside safer lending by banks, have allowed the LVR restrictions to be eased in the past two years. The current LVR restrictions remain appropriate for now, as household risks have not changed much in the past six months.

家庭债务和房价的增长放缓,以及银行更安全的贷款,使得LVR限制在过去两年得到缓解。目前的LVR限制目前仍然适用,因为家庭风险在过去六个月内没有太大变化。

High debt and asset prices could amplify global financial system disruptions

高负债和资产价格可能会加剧全球金融体系的中断

Problems that develop overseas can harm New Zealand’s financial system. The most concerning international risks relate to high asset prices and debt levels in many large countries, particularly China. High government debt and already low interest rates limit the ability of governments and central banks to further support economic growth. These risks have not changed much in the past six months.

在海外发展的问题可能会损害新西兰的金融体系。最令人担忧的国际风险涉及许多大国,特别是中国的高资产价格和债务水平。高政府债务和已经很低的利率限制了政府和中央银行进一步支持经济增长的能力。这些风险在过去六个月中没有太大变化。

Longer term, climate change presents significant challenges for some industries and regions. The financial system must understand and adapt to climate change risks.

从长远来看,气候变化给某些行业和地区带来了重大挑战。金融体系必须了解并适应气候变化风险。

We have proposed larger capital buffers for the financial system

我们为金融体系提出了更大的资本缓冲

The Reserve Bank has proposed to gradually raise bank capital requirements to make the banking system safer. This reflects evidence that the costs of bank failures are higher than previously understood. We are now carefully reviewing public feedback on the proposals and expect to announce decisions by the end of November.

新西兰联储提议逐步提高银行资本要求,使银行系统更加安全。这反映了银行倒闭成本高于先前理解的证据。我们现在正在仔细审查公众对提案的反馈意见,并期望在11月底之前宣布决定。

Separately, some insurers and non-bank deposit takers have capital buffers that would absorb only relatively small losses. These institutions should raise capital to reduce their risk of failure.

另外,一些保险公司和非银行存款人有资本缓冲,只能吸收相对较小的损失。这些机构应筹集资金以降低失败风险。

Good financial institution culture and conduct is critical to success

良好的金融机构文化和行为对成功至关重要

It is important that the financial system has a long-term customer focus to maintain public confidence and support financial system efficiency. Banks and insurers must respond to the challenges identified in the recent reviews of conduct and culture.

重要的是,金融系统长期以客户为中心,以维护公众信心并支持金融系统效率。银行和保险公司必须应对最近的行为和文化审查中发现的挑战。

The Reserve Bank and Financial Markets Authority are working with banks and life insurers to ensure they have adequate plans to address the specific issues identified.

储备银行和金融市场管理局正在与银行和人寿保险公司合作,以确保他们有足够的计划来解决所发现的具体问题。

Some insurance products are becoming less affordable

一些保险产品变得越来越便宜

The price of home and contents insurance for properties perceived to be at high risk from earthquake damage is increasing. We are working with industry to understand the impacts this will have on insurance provision more broadly. Owners of more vulnerable properties should be aware that insurance may become less affordable in the future, which may reduce the value of their homes.

被认为受到地震破坏的高风险房产的房屋和内容保险的价格正在上涨。我们正在与行业合作,以更广泛地了解这将对保险提供产生的影响。更易受伤害的财产的业主应该意识到,未来保险可能会变得不那么便宜,这可能会降低他们房屋的价值。

Looking forward, as climate change risks become more acute, insurance for properties susceptible to rising sea levels and coastal inundation may become more expensive and difficult to obtain.

展望未来,随着气候变化风险变得更加严重,对易受海平面上升和沿海洪水影响的房产的保险可能会变得更加昂贵并且难以获得。

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