Risk premium on lending (lending rate minus treasury bill rate, %) in New Zealand
New Zealand: Risk premium on lending (lending rate minus treasury bill rate, %) was -3.1% in 2025. ◆ Volatile
Risk premium on lending in New Zealand, 1998–2025
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in lending rate minus treasury bill rate, %.
Analysis
The most recent figure for risk premium on lending in New Zealand is -3.1%, measured in 2025.
The figure is up 40.4% on the previous year and down 211.0% over ten years.
Over the whole period, risk premium on lending in New Zealand peaked at 3.8% in 2009 and was at its lowest, -5.2%, in 2024.
That places New Zealand 82nd out of 86 countries with data for 2025, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Risk premium on lending (lending rate minus treasury bill rate, %) in New Zealand, year by year
| Year | lending rate minus treasury bill rate, % | Change |
|---|---|---|
| 1998 | 1.9% | — |
| 1999 | 2.5% | +30.2% |
| 2000 | 1.4% | -42.3% |
| 2001 | 2.0% | +42.9% |
| 2002 | 1.7% | -18.6% |
| 2003 | 1.8% | +7.8% |
| 2004 | 1.3% | -29.7% |
| 2005 | 1.2% | -1.2% |
| 2006 | 1.1% | -7.5% |
| 2007 | 1.1% | -7.1% |
| 2008 | 1.9% | +81.5% |
| 2009 | 3.8% | +98.3% |
| 2010 | 3.5% | -9.1% |
| 2011 | 3.6% | +2.2% |
| 2012 | 3.4% | -5.4% |
| 2013 | 3.1% | -6.7% |
| 2014 | 2.6% | -18.4% |
| 2015 | 2.8% | +8.0% |
| 2016 | 3.0% | +7.8% |
| 2017 | 3.0% | +0.4% |
| 2018 | -1.7% | -157.1% |
| 2024 | -5.2% | +201.6% |
| 2025 | -3.1% | -40.4% |
New Zealand compared with similar countries
- New Zealand's -3.1% is below the median for high income countries, which is 2.9%. (26 countries reporting)
- New Zealand's -3.1% is below the median for East Asia & Pacific, which is 3.4%. (14 countries reporting)
Biggest year-on-year movements
Years where Risk premium on lending (lending rate minus treasury bill rate, %) in New Zealand changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2024 | -201.6% | -1.7% | -5.2% |
| 2018 | -157.1% | 3.0% | -1.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 2.2% | 1.9% | 2.5% | 2 |
| 2000s | 1.7% | 1.1% | 3.8% | 10 |
| 2010s | 2.6% | -1.7% | 3.6% | 9 |
| 2020s | -4.1% | -5.2% | -3.1% | 2 |
Countries ranked near New Zealand
- 79 United Kingdom 0.1% compare
- 80 Moldova -0.1% compare
- 81 Bangladesh -2.1% compare
- 83 Egypt -3.4% compare
- 84 South Sudan -6.1% compare
- 85 Serbia -6.2% compare
More financial sector data for New Zealand
- Reserve position in the IMF, US dollar, annual growth rate 6.51 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0016 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 81.16 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 1.42 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0012 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 59.26 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 6.51 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0016 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 81.16 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 1.42 % change on previous year (2025)
Frequently asked questions
- What is risk premium on lending in New Zealand?
- Risk premium on lending in New Zealand was -3.1% in 2025, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest risk premium on lending recorded in New Zealand?
- The highest recorded value was 3.8% in 2009.
- What is the lowest risk premium on lending recorded in New Zealand?
- The lowest recorded value was -5.2% in 2024.
- How does New Zealand rank for risk premium on lending?
- New Zealand ranks 82nd out of 86 countries with data for 2025.
- Is risk premium on lending rising or falling in New Zealand?
- Over the last ten years it is down 211.0%. The long-run trend across the full record is volatile.
- Where does this New Zealand data come from?
- The figures come from International Financial Statistics database, International Monetary Fund (IMF), published as part of Risk premium on lending (lending rate minus treasury bill rate, %). Statizoid updates them automatically from the source API.
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About this data
Risk premium on lending is the interest rate charged by banks on loans to private sector customers minus the "risk free" treasury bill interest rate at which short-term government securities are issued or traded in the market. In some countries this spread may be negative, indicating that the market considers its best corporate clients to be lower risk than the government. The terms and conditions attached to lending rates differ by country, however, limiting their comparability.