KPMG
Riding the Covid rollercoaster
08/03/2022
Two years since Covid-19 hit New Zealand it’s still dominating the headlines. In 2021 the global pandemic continued to have an extraordinary impact on households and businesses. Plans to re-open our borders have been a moveable feast and the emotional rollercoaster ride continues for many.
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NZ Herald
Banks issued a blunt warning that vulnerable customers would be most impacted by CCCFA
01/03/2022
“Members remain concerned the CCCFA’s prescriptive rules, combined with significant penalties, may ultimately drive more conservative lending behaviour that could limit access to credit,” NZBA chief executive Roger Beaumont said.
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Interest.co.nz
As the RBNZ mulls developing a central bank digital currency, the NZ Bankers’ Association queries what public policy problem one would address
15/02/2022
“We note that some central banks, most notably the Federal Reserve, have suggested that CBDC’s may be a ‘solution looking for a problem,’ and that even where there are problems in the payment system, there are more effective means to resolve them than a CBDC,” NZBA said.
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NZ Herald
Credit crunch or responsible lending? Has the law gone too far?
04/02/2022
Clark has already pointed the finger at the banks, hinting that they may not have been complying with responsible lending obligations before the changes came in. However in a statement this week, the New Zealand Bankers’ Association said it did not know what Clark was referring to.
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Otago Daily Times
Minister stands by lending rules, says he will listen
02/02/2022
“Banks take their obligations to comply with the law very seriously. That was the case before the rule change and remains the case.”
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Newstalk ZB
Roger Beaumont: Banks are taking the lending rules seriously
01/02/2022
Clark said banks weren’t adhering to responsible lending rules before new legislation came in last year. The Bankers Association’s Roger Beaumont told Heather du Plessis-Allan Clark’s not correct.
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Stuff
Banks deny minister’s irresponsible lending accusation
01/02/2022
“We’ve made several submissions on the CCCFA law change and new regulations since 2018. In our submissions we’ve set out our concerns all along the way. The investigation might be able to clarify some of those concerns and hopefully identify some useful solutions.”
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NZ Herald
Lending probe: David Clark hints banks not following the rules
01/02/2022
“The suggestion that banks were not complying with their responsible lending obligations before the latest CCCFA changes comes as a surprise. Banks are simply complying with the new rules as they are written.
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TVNZ
Details of review into tough new lending rules revealed
31/01/2022
“Banks are in the business of lending, it’s fundamental to what they do, they want to be able to lend to customers but they’re not going to do that if it risks breaching their regulatory obligations because the consequences for that are really serious.”
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The Spinoff
Our new lending rules have everyone confused. What went wrong?
24/01/2022
“The law change has made banks’ ability to lend less flexible,” says New Zealand Bankers Association CEO Roger Beaumont.
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