Stuff.co.nz
Banks change rules – but only for their Australian customers
20/12/2017
“Adopting principles, rather than prescriptive rules, means banks will have to think carefully about how they’re meeting those customer commitments. That’s quite different from what’s required in Australia.”
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Stuff.co.nz
Night Noodle Markets go cashless – but shoppers slow to catch on to new tech
11/12/2017
“It’s still early days, and we’d expect to see this technology continue to evolve in line with greater demand from merchants and consumers.”
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Interest.co.nz
Farmer survey reports that only a small minority farmers feel that they have come under undue pressure from bankers over the past six months as rural sector heads into a drier-than-normal period
06/12/2017
“It shows that banks are continuing to work closely with their agri clients. That’s not surprising given the high level of bank support for the agri sector.”
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Stuff.co.nz
Getting a loan may still be tough, even without Reserve Bank rules
27/11/2017
New Zealand Bankers’ Association chief executive Karen Scott-Howman said banks were responsible lenders and that would not change, no matter what the central bank’s rules were.
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NZ Herald
Banks given grace period for new money laundering laws
31/10/2017
“We have no issues with the particular thresholds set by the Government. The main concern for the banking industry is being able to meet its obligations within statutory deadlines, in consultation with other parties.”
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Stuff.co.nz
NZ prepares to join the ‘open banking’ revolution
28/10/2017
“We are very open to have conversations, but so far there’s no regulator which has consulted publicly on it.” Scott-Howman stresses the importance of security of people’s financial data.
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Stuff.co.nz
Buyers caught out by home loans falling through
16/10/2017
“Banks are particularly interested in the borrower’s ability to repay the loan, and the security provided for the loan. People seeking home loans need to be up front with the bank about their personal circumstances, such as existing financial obligations and outgoings.”
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Interest.co.nz
FMA’s BKBM guidance hailed as ‘pragmatic, practical and sensible’ guidance that ‘stands out globally’
11/10/2017
“We’re particularly pleased that the FMA has confirmed there are no systemic conduct issues around the use of the benchmark. That provides an assurance that banks can use the rate with confidence,” Scott-Howman says.
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Interest.co.nz
NZBA opposes debt-to-income ratio macro-prudential tool and suggests a serviceability interest rate instead
29/08/2017
NZBA has come out against the Reserve Bank adding a debt-to-income ratio tool to its macro-prudential toolkit. But the bank lobby group has suggested a serviceability interest rate, or SIR, as a potential alternative.
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Interest.co.nz
Alex Sims on why the Government needs to get up with the play and start regulating cryptocurrencies
27/08/2017
The New Zealand Bankers’ Association has repeatedly denied claims its members apply “blanket de-risking” policies. Rather it says banks consider prospective clients’ risks on a case-by-case basis.
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