Interest.co.nz
As the banks begin offering mortgage deferrals of up to a year, we play around with some numbers for illustrative purposes – with illuminating results
26/08/2020
The New Zealand Bankers Association says since March 26, when New Zealand first went into lockdown, banks have deferred all repayments on consumer loans totalling around $21 billion for over 61,000 customers. That represents 7% of total consumer lending.
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NZ Adviser
Changes to business lending scheme receive mixed response
26/08/2020
The New Zealand Bankers’ Association has welcomed the government’s latest changes to the Business Finance Guarantee Scheme as they support the supply of credit to businesses in need.
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Stuff
Bank profits cut nearly in half by Covid-19 economic crisis
25/08/2020
New Zealand Bankers’ Association chief executive Roger Beaumont said banks had taken on staff earlier in the year to cope with rising compliance costs.
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Stuff
Auckland banks shut doors – then open them – after level 3 confusion
24/08/2020
The New Zealand Bankers’ Association said banks had been informed that a Reserve Bank application to allow them to open had been declined and had shut their doors.
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Interest.co.nz
Robertson increases cap on Business Finance Guarantee Scheme 10-fold, extends terms of loans and enables businesses to use loans for capital investment and re-financing
20/08/2020
NZ Bankers’ Association CEO Roger Beaumont said “uptake will ultimately be driven by demand from businesses”.
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Business Desk
Govt tries again to get banks to lend businesses up to $6.25b
20/08/2020
NZBA data showed that since March 26 when the country first went into lockdown its members have lent $14.7 billion to businesses outside of the BFGS to more than 25,600 businesses.
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NZ Herald
Government-backed loan size limit raised from $500,000 to $5m in bid to boost interest
20/08/2020
“Widening the scheme criteria further supports the supply of credit to businesses in need. Uptake will ultimately be driven by demand from businesses.”
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NBR
Banks say modified finance guarantee scheme will help business lending
20/08/2020
The New Zealand Bankers’ Association’s chief executive Roger Beaumont said expanding the criteria of the scheme should make it more relevant for businesses.
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Interest.co.nz
David Hargreaves tries to make sense of swirling and contradictory facts and figures around the current mortgage market
19/08/2020
The Bankers’ Association says that since March 26, when New Zealand first went into lockdown, banks have deferred all repayments on consumer loans totalling around $21 billion for over 61,000 customers. That represents 7% of total consumer lending. It adds, however, that nearly a quarter of those customers have subsequently restarted their loan repayments.
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NZ Herald
Farming business advice from Rural Support
18/08/2020
The National Council of Rural Support Trusts and New Zealand Bankers’ Association have recently signed the agreement for the Fund. Under the agreement, the RSTs will provide up to $3000, depending on an assessment of need, and the relevant bank will match that dollar for dollar.
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