Nicola Willis announced a new banking levy to raise $200m over four years and pay for regulation of the banks. Roger Beaumont is the CEO of the Banking Association and spoke to Guyon Espiner.

New Zealand Banking Association chief executive Roger Beaumont said: “Banks understand the need for appropriate funding for regulators.”

Education and Workforce Select Committee (more…)

“Banks will engage constructively with the Reserve Bank in the consultation process to help make the levy appropriate, effective, and well targeted,” Beaumont said.

“Banks will engage constructively with the Reserve Bank in the consultation process to help make the levy appropriate, effective, and well targeted,” he said.

In the meantime, commenting on the levy, New Zealand Banking Association chief executive Roger Beaumont said banks understood the need for appropriate funding for regulators.

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Reserve Bank of New Zealand – Te Pūtea Matua (more…)

Reserve Bank of New Zealand – Te Pūtea Matua (more…)

Beaumont says banks make a net contribution to the New Zealand economy, once you take into account the billions they collectively pay in tax and running their businesses here, and that they employ around 30,000 New Zealanders.