- The New Zealand Bankers’ Association has welcomed the third reading of the Credit Contracts and Financial Services Law Reform Bill in Parliament last night. The law change aims to crack down on loan sharks and requires lenders to act with skill, care and diligence in all dealings with a borrower throughout the life of a... Read more »
- New Zealand banks are moving to implement their obligations under the United States Foreign Account Tax Compliance Act (FATCA). The US law aims to reduce tax evasion by US persons using financial accounts outside the United States of America. It does so by requiring participating financial institutions around the world, including New Zealand banks, to... Read more »
- The government’s sound economic management has begun to pay dividends said the New Zealand Bankers’ Association today in response to Budget 2014. “The Budget shows that the New Zealand economy is on the right track with a return to a small surplus in 2014/15 and then with surpluses forecast to increase moderately in future years,”... Read more »
- The Reserve Bank of New Zealand’s Financial Stability Report released today has found that the financial system remains sound and is well placed to support economic expansion. “The New Zealand banking industry is in good shape, remains strong, and is well capitalised and regulated,” said New Zealand Bankers’ Association chief executive Kirk Hope. “Recently reported... Read more »
- KPMG’s Financial Institutions Performance Survey analysis for the quarter to December 2013 released today has found that New Zealand’s economic development and the banking industry’s strength go hand-in-hand. “Our strong and stable banking system provides a great platform for economic growth. That growth is possible because banks are providing funding to businesses across a range... Read more »
- ASB Bank chief executive Barbara Chapman has been elected chair of the New Zealand Bankers’ Association for 2014/15 and takes on the role today. BNZ chief executive Andrew Thorburn was elected deputy chair. “The association plays an important role representing the banking industry on a range of issues with a range of stakeholders,” said Barbara... Read more »
- Drought-affected farmers should talk to their banks said the New Zealand Bankers’ Association in response to increasingly dry conditions in parts of Northland and Waikato. “We encourage any farmers facing hardship as a result of the lack of rain to contact their bank to discuss options for assistance and how they can work through these... Read more »
- The 25 basis points rise in the Official Cash Rate to 2.75% announced by the Reserve Bank of New Zealand today was widely expected said the New Zealand Bankers’ Association. “The OCR rise has been clearly signalled by the Reserve Bank Governor for some time, and comes as no surprise,” said New Zealand Bankers’ Association... Read more »
- New Zealand banks continue to be strong and stable according to KPMG’s Financial Institutions Performance Survey for the 2013 financial year. “Our banks are among the best funded and regulated in the world, and highly competitive. That’s good for New Zealand households, businesses and our economy,” said New Zealand Bankers’ Association chief executive Kirk Hope.... Read more »
- Now is a good time to prepare for rising mortgage interest rates said the New Zealand Bankers’ Association in response to the Reserve Bank of New Zealand’s Official Cash Rate statement today. While the OCR has been left unchanged at 2.5%, the Reserve Bank has recently projected the cash rate could rise by 2.25% over... Read more »
