Banking

A quarterly consolidated statement of the accounts of the monetary authorities, banks, and other bank-like institutions excluding non-bank financial institutions.

Banking

Banking Statistics - September Quarter, 2020

Key facts

For the September Quarter 2020:

  • Net foreign assets is $297.0 million for all banks surveyed in the September quarter 2020.
  • Total lending for the September quarter 2020 sat at $284.4 million.
  • The money supply decreased by 3.7 percent overall
  • Interest rates remained stable this quarter

Information about Banking Statistics

Aggregates are compiled from the Banking Survey which covers the Four commercial banks in the Cook Islands: ANZ, Bank of the South Pacific (BSP), 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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