NZ Herald
Covid 19 coronavirus: Government hastily changes loan scheme as Treasury conditions come under fire
01/05/2020
NZBA chief executive Roger Beaumont issued a statement saying the scheme was a risk sharing one and that if a borrower defaulted, the banks were required to take steps to recover the money.
Read Article
Newsroom
Full Govt guarantee needed for business loans
01/05/2020
The New Zealand Bankers Association said banks had lent businesses $5.9 billion in new loans since March 26. These are loans outside the BFGS because the final deed on the scheme was signed two weeks after the official announcement was made.
Read Article
NZ Herald
Covid 19 coronavirus: More than 100,000 Kiwis taking mortgage relief
30/04/2020
More than 100,000 households are now seeking some form of mortgage relief, according to the latest data from the New Zealand Bankers Association. New figures show 49,821 borrowers have deferred all loan payments under the six month mortgage holiday scheme.
Read Article
NBR
Covid-19 loan scheme for SMEs a flop
29/04/2020
In making loans under the Business Finance Guarantee Scheme the banks were bound by the terms set by the Treasury, Bankers Association chief executive Roger Beaumont said. “The rules require banks to have customers provide security for loans under the scheme. Banks are responsible lenders. The loans are not intended to fail, which is why...
Read Article
Stuff
Coronavirus: Spraying a bit of cash around will help tackle Covid-19 disruption – but not yet, economist says
23/04/2020
“However, banks have quite independently loaned $6.9 billion to business customers in the four weeks since March 26.”
Read Article
Newshub
Coronavirus: Banks accused of refusing to lend money to tourism businesses desperate for finance
22/04/2020
Banks say they’re here to help but can’t help every business in every sector. “If the business case doesn’t stack up or isn’t justifiable, well that’s when it gets really hard and really challenging,” said New Zealand Bankers’ Association chief executive Roger Beaumont.
Read Article
RNZ
Covid-19: Banks boost loans to small, medium businesses
22/04/2020
The Bankers’ Association said so far $28.9 billion worth of new loans or restructured loans had been agreed with close to 36,000 customers.
Read Article
TVNZ
Banks lend more than $6.3 billion to businesses to help them survive lockdown
21/04/2020
As businesses around the country race to prepare for life under Covid-19 Alert Level 3, 1 NEWS can reveal since the lockdown started banks have lent more than $6.3 billion to businesses.
Read Article
Stuff
Reserve Bank prepares to axe loan-to-value restrictions for home-buyers
21/04/2020
“This proposal would also add to the range of support our banks are already offering affected customers to help them get through. For example, banks have to date allowed around 100,000 customers reduce repayments on loans worth $33 billion, and completely defer repayments on loans worth $17 billion.”
Read Article
NBR
Firms urged to go back to banks for loans
21/04/2020
“The fact that banks have lent $5.5b to businesses since we went into lockdown clearly shows they’re lending where they can. They still need to be responsible lenders and not everyone looking for a loan will meet the lending criteria,” Beaumont said. None of that $5.5b loaned by banks since March 26 forms part of the...
Read Article
