Be a little careful comparing ANZ/UDC running of a finance company to Heartland's.
One must remember the person who led PGC/Marac into having to recap was ex ANZ/UDC man Brian Jolliffe.
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Be a little careful comparing ANZ/UDC running of a finance company to Heartland's.
One must remember the person who led PGC/Marac into having to recap was ex ANZ/UDC man Brian Jolliffe.
OK Let me make my point this way.
All the details, including the true numbers, for the Capital Adequacy (which is what you are referring to above) calculations are available in the Disclosure Statements which you have read.
And yet you ignore them and post the above instead.
Paper Tiger
Two and a half years he has been on a learning curve?
How much much longer do you expect us to put up with his rubbish.Never been right once.!!!!
Never been to an agm or a presentation.
Never bothered to phone the company and check the facts.
Never read what knowledgeable posters have posted.!!
Why would they mention January 2014 Basel 3 in the September 2013 DS when it does not apply?
Snoopy will never get to the bottom of HNZ while he persists in his blinkered attitude to them and the link to disclosure statements as been provided on this thread before.
Best Wishes
Paper Tiger
PT I think you and I are talking cross purposes here. I actually have little interest in the September 2013 Heartland Disclosure Statement, or even the December 2013 Disclosure Statement (when that comes out with the February announcement). Heartland still exists and is trading and has not been sanctioned by the Reserve Bank, and the credit rating remains at investment grade (just). So obviously all Tier one equity conditions as required with the Reserve Bank have been met as of the latest repoprting period. I am however, very interested in the current equity position of HNZ and how that relates to Reserve Bank requirements. And I will use historic declarations to help forecast that.
To forecast the current position, I have to use the most recently declared Reserve Bank Requirement position (30th September 2013) and add on to that any subsequent legal requirements that come to pass. That includes the January 2014 adoption by the Reserve bank of New Zealand of the new 2.5% Capital Buffer Ratio, which as you correctly observe is not in the September 2013 declaration, (because it did not apply at that date). That 'added on' bit was I think the piece you were castigating me for in my post 3044, perhaps bceause I hadn't clearly explained why it was there.
Accordingly I believe my post 3044 contains my best estimate of the Reserve bank capital requirements that Heartland must comply with right now, which is the time period that concerns me. I hope that clears things up.
SNOOPY
Just to add to this, the half year result disclosure does not contain all the detail of full year report, as regards the risk analysis on outstanding loans. So I do not expect it to be all that useful in seeing how Heartland is progressing with their problem loans. However, one figure that we can check out will be the 'Investment Properties' as listed on the balance sheet. We know that Heartland are ahead of their own schedule in selling down these problem loans. But have the loans sold down come from here, or have they come from the regular loans outstanding? And have the loans been wound up at a profit or a loss? Those questions at least should be answered.
SNOOPY
There are two certainties with the HNZ Half Year results.
1) The results will be fine and the Capital Adequacy will be adequate :).
2) Snoopy will disagree with 1)
Best Wishes
Paper Tiger
Yes the half year result will be fine,and the Capital ratios will be MORE than adequate.
My concern is;if it took Belgarion the best part of ten years to fully understand bank's balance sheets,how long will it take Snoopy?
He may do a little better with your guidance?
I seem to remember the last time he was quoting The Reserve Bank,Heartland would take years to get a banking licence.Then his wonderful nonsense that Heartland only had a "learners licence." Wasn't funny at the time either.!!
No.
All banks that operate in NZ have to report to The Reserve Bank.
This adds an extra margin of safety for bank investors.
Nice to see an aggressive seller of HNZ shares.Wonder whether he will let his 90 shares go at 88cents, or will he meet the buyers at 87cents who want 121,488 shares?Or will one of the buyers who want 239,958 shares at 86cents decide to jump the que?.!!
Or maybe the sellers, who have 58,682 shares for sale at 89cents will drop them off?!!
We live in interesting times!?
I don't really mind as I added to my holding at 88cents today.
Well Percy you will be pleased that they have reached a 52 week high of 89c, with on-going buyer interest..
I just love new highs.!!!!! Yes I am pleased.HNZ sp has been in a channel between 84 cents and 88 cents for months,so where it goes to now will be interesting,and enjoyable.!!!!~ lol.
7 buyers lining up at 88cents wanting 140,542 way out number the 4 sellers wanting to sell 58,203.
Managed somehow to change my requirements with Link yesterday,so have all of my HNZ shares on dividend reinvestment.
Wife still likes to see the money,however.
Love it.Spoke too soon.100,000 just gone through at 88cents.lol