Westpac, as with almost all banks, is managing rising losses in New Zealand.In the bank's trading update yesterday Westpac cited New Zealand, along with institutional and commercial, as drivers of rising watch list and substandard assets.Loans 90 days or more overdue are at 66 basis points in mortgages, a rise of 19 basis points over September 2008.Overdue consumer loans increased four basis points to 133 basis points.