Stuff
Households already coming off home loan ‘holidays’, banks say
21/05/2020
At the end of Monday, 59,237 bank borrowers were making reduced repayments on their home loans, or other loans, and 53,779 were on complete repayment holidays, figures from the New Zealand Bankers’ Association showed.
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NZ Adviser
Banks commit to paying suppliers faster amid COVID-19 crisis
20/05/2020
“Last year, our banks spent $5.7 billion running their businesses in New Zealand. That includes paying local businesses for goods and services. We expect this initiative will make a difference for many businesses.”
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Interest.co.nz
David Hargreaves has a deeper dive through the Reserve Bank’s latest figures on mortgage lending by debt-to-income ratio and finds that buyers across the spectrum have been stretching themselves further
18/05/2020
According to NZ Bankers Association figures nearly 54,000 bank customers with mortgages of just under $19 billion have gone on the six month repayment ‘holiday’, which was offered in March.
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Interest.co.nz
RBNZ Governor says banks will need to be ‘forgiving’ as more people are set to lose their jobs as mortgage repayment deferrals expire
18/05/2020
According to the New Zealand Bankers’ Association, banks approved repayment deferrals on $18.9 billion of consumer loans to 53,779 customers, in the nearly two months to May 18.
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Business Desk
Government to private sector: please pay your bills faster
18/05/2020
The banking sector, meanwhile, is on board and committing to paying suppliers of goods and services within two weeks, New Zealand Bankers’ Association chief executive Roger Beaumont said.
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Stuff
Pay small businesses as soon as possible, Government urges big business
18/05/2020
“We’re pleased to make this commitment to support New Zealand businesses. It’s another way in which we’re supporting our economic recovery.”
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NBR
Prepare for negative rates, banks warned
13/05/2020
“Other important factors that determine retail interest rates include the cost of wholesale funding from overseas and the cost of domestic funding, which includes rates of return on retail bank deposits.”
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Interest.co.nz
RBNZ says banks haven’t been lending heaps partly because some businesses don’t want more debt… yet
13/05/2020
The NZBA reported banks provided $7.6 billion of “new” business lending to 13,432 customers between March 26 and May 13.
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NZ Herald
Mortgage wars: NZ’s largest bank offers home loan under 3 per cent
11/05/2020
Last week, the New Zealand Bankers’ Association said 105,035 loans worth a total of $36.9b had been reduced or had payments deferred on them.
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Business Desk
Banks have lent only $23m of the govt’s $6.25b business lending scheme
07/05/2020
Beaumont said banks are “responsible lenders” and the BFGS doesn’t change that. “Businesses borrowing under the scheme still need to see a way of repaying the loan.”
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