NZ Herald
Banks made $7.5b in new loans during lockdown
20/04/2020
New Zealand’s trading banks have provided businesses and consumers $7.5 billion in new loans since the country went into lockdown, with 13,559 business customers lent $5.5 billion and the balance going to 21,772 consumers.
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Newshub
Coronavirus: Business leaders urge innovation in post-lockdown economy rebuild
19/04/2020
Banks so far have loaned an extra $7.5 billion to businesses and consumers during the lockdown. They’ve also allowed customers to pay only interest for almost $33 billion worth of loans, and allowed them to pause all repayments on $17 billion worth of loans.
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Interest.co.nz
Finance Minister warns we’re in for a long haul; Says the govt is considering extending the Business Finance Guarantee Scheme
18/04/2020
Meanwhile banks had allowed 41,436 borrowers to reduce their loans to interest-only, or made other principal and/or interest repayment reductions. The value of these customers’ outstanding balances was $14.6 billion.
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NZ Herald
Covid 19 coronavirus: Payments on more than 80,000 loans reduced or deferred
17/04/2020
The NZBA said that across its membership, payments had been lowered on 41,436 loans worth $14 billion, while repayments had been deferred entirely on 40,918 loans worth $14.5b.
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NZ Herald
Covid 19 coronavirus: Reserve Bank urges banks to consider ‘social responsibility’ in business lending
15/04/2020
New Zealand Bankers’ Association chief executive Roger Beaumont said the group would be publishing aggregated data “which will show how banks are supporting both business and personal customers in practical ways”.
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Stuff
Banks promise Covid-19 mortgage holidays won’t reduce credit scores
09/04/2020
“Given the extraordinary circumstances it seems fair that individual credit ratings are not affected by a pandemic-related mortgage deferral.”
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NZ Herald
Coronavirus Covid-19: Fitch downgrades bank ratings on tough economic conditions
08/04/2020
“The latest ratings reflect what’s happening in the environment in which banks are operating rather than the banks themselves,” said New Zealand Bankers’ Association chief executive Roger Beaumont.
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Stuff
Banks told: Don’t charge interest on mortgage holidays
01/04/2020
“Last week we announced that New Zealand’s retail banks are offering mortgage repayment deferrals. That represents immediate financial relief for many customers. Banks do not profit from this. In fact, they cover the cost of providing that credit for the period of the deferred payments.”
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NZ Herald
Nine banks to start lending govt-backed $6.25b for business immediately
31/03/2020
“Banks will follow their normal credit assessment processes to see if businesses qualify for the scheme and will take into account the circumstances businesses find themselves in due to covid-19.”Â
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Interest.co.nz
More detail unveiled on which businesses are be eligible for an 80% taxpayer-backed bank loan to get them through the COVID-19 crisis
31/03/2020
New Zealand Bankers’ Association CEO Roger Beaumont said banks’ credit assessments typically take 10 working days.
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