- “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.
- The New Zealand Bankers’ Association today welcomed the election of Business NZ chief executive Phil O’Reilly as chair of the OECD’s Business and Industry Advisory Council (BIAC). “It’s great that New Zealand has been recognised in this way, and to see this international group getting the benefit of Phil O’Reilly’s leadership and talent as a... Read more »
- 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.
- The government continues to guide the economy in the right direction said the New Zealand Bankers’ Association today in response to Budget 2013. “The government’s prudent fiscal approach to the economy, underpinned by our strong and stable banking sector, is crucial to our continuing economic momentum in a still fragile global economy,” said New Zealand... Read more »
- 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.”
- Cracking down on money laundering is part of a global response to serious crime and terrorism. New Zealand banks are playing their part by implementing a new law which comes into force on 30 June 2013. Under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 all New Zealand banks have additional obligations to... Read more »
- 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.
