- New Zealand Bankers’ Association chief executive Kirk Hope said the new regulations would make borrowing more difficult for Auckland property investors. But they would have limited impact on prices. “The real issues driving housing affordability in Auckland are the lack of housing supply, and strong inward migration, not the availability of cheap credit.”
- Banks consider how vulnerable money remitters are based on whether they are registered, accept cash deposits frequently or deposits with a high value, process transfers to or from high risk jurisdictions, aggregate bulk payments and thus remove the transparency on their clients, have little or no upper limits on the value or frequency of transactions,... Read more »
- “New Zealand is an importer of capital – it’s not a new thing, we’ve always been like that and we will probably have to be for some time. So this is going to tax that more: it does mean extra costs. And any extra costs means, potentially, increased lending costs for businesses and consumers.”
- New Zealand Bankers’ Association boss Kirk Hope said Islamic mortgages were likely to be a niche product, and was not surprised banks had not yet taken an interest.
- Bankers’ Association chief Kirk Hope says there are few times when a bank can legally divulge your information: “You’ve got compulsion by law, a public duty to divulge the information, or where a bank has to disclose information to protect its own interests, for example in a court case. Or where the customer agrees to... Read more »
- New Zealand Bankers’ Association chief executive Kirk Hope said: “The Australian courts have so far ruled that none of the fees targeted by the action are unreasonable. For bank customers these fees are also avoidable”.
- Incoming NZBA chair Anthony Healy said, “Our banks are rated as the most sound in the world and we look forward to a productive year with the Association and its members, and continuing meaningful engagement with stakeholders.”
