- The Bankers’ Association is seeking to create a database of house insurance contracts to allow mortgage lenders to keep tabs on whether borrowers are keeping their homes adequately insured.
- Hope said there was a risk that in capping the amount of lending done over the 80 per cent threshold it could spark third tier lenders to emerge and lend money on an unsecured basis.
- Kirk Hope was appointed the head of lobby group the Bankers’ Association last year, so you’d expect him to have a better grip on his finances than the average New Zealander.
- “One relevant factor in this discussion is whether it’s justifiable for farms as businesses to be treated differently from other businesses that find themselves in financial difficulty. Any proposal for a special mediation service for farms would need to provide a good rationale for establishing a sector-specific service,” Kirk Hope said.
- New Zealand’s banking sector has spent roughly $90 million getting ready for a new anti-money laundering and terrorism financing law which kicks in at the end of next month.
- Bankers Association chief executive Kirk Hope said banks could live with a differential for first-home buyers, but any restrictions on bank lending might simply drive home buyers to more risky unregulated lenders.
- Chief executive Kirk Hope said, “We all have a role to play in the new anti-money laundering regime … This is about New Zealand’s international reputation and fighting crime.”
- Chief executive Kirk Hope said house prices were not being spurred along by looser credit conditions as the Reserve Bank claimed. Credit growth was running at about 3 per cent. “This isn’t a credit-driven price issue, it’s a supply-driven price issue,” he said.
