Indeed, gains in real residential investment spending have been faster so far in 2015 than last year, although the level of new residential construction still remains fairly low. And outside of the drilling and mining sector, where lower oil prices have led to substantial cuts in outlays for new structures, business investment spending has posted moderate gains.
In New Zealand, all registered banks are required to have systems in place to monitor and control their material risks, including interest rate risks. Our banks also operate different business models that mean that they are not as exposed to the risks that have led to the issues with SVB.