Interest.co.nz
‘No wholesale move by banks to sell people out of their homes,’ bank lobby group says responding to Terralink pointing to ‘marked upturn’ in major banks forcing mortgagee sales
13/06/2012
Bank lobby group the New Zealand Bankers’ Association has hit back at suggestions from property information provider Terralink that mortgagee sales are rising because of a “marked upturn” in the major banks forcing them, saying the total number of mortgagee sales last year was less than 0.2% of the total number of mortgages and there’s...
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Mortgagee sales less than 0.2% of all mortgagesT
11/06/2012
he New Zealand Bankers’ Association revealed today that the number of mortgagee sales was less than 0.2% of the total number of mortgages held by New Zealanders. In 2011 there were 2263 mortgagee sales, compared to over 1.2 million mortgages. “This is a tiny fraction of total mortgage numbers,” said New Zealand Bankers’ Association chief...
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Stuff.co.nz
Banks cry foul over levy
07/06/2012
“The benefits to already responsible participants are not at all evident compared to the costs they are being asked to shoulder,” Hope said. While banks could pose a greater structural risk to the economy, Hope said the prudential risks of the sector were already being managed by the Reserve Bank. “At a structural level we’re talking about...
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NZ Herald
Banks pay big fees to fund FMA
07/06/2012
New Zealand Bankers’ Association chief executive Kirk Hope said it had no issue with an industry contribution to FMA costs but the levy was disproportionate to the benefits received.
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FMA levy misses the mark
05/06/2012
The New Zealand Bankers’ Association today expressed disappointment at the government’s announcement on the way it intends to levy the financial sector to fund the Financial Markets Authority. “Banks are well-regulated responsible lenders operating at the top end of the market. “The levies should better reflect the costs and benefits where they actually fall,” said...
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NZ Herald
Homeowners’ good news is savers’ loss
02/06/2012
While homeowners are jumping up and down with excitement over the low mortgage rates, savers aren’t having so much fun. “Balancing the needs and aspirations of borrowers and depositors, within the context of global uncertainty and a very competitive market, provides plenty of challenges for our banks,” Hope says.
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Good public purse management keeps cost of credit down
24/05/2012
Prudent management of the public purse is essential to keeping down the cost of credit said the New Zealand Bankers’ Association today in response to Budget 2012. The Association supported moves to ensure borrowing costs for the government, householders and business owners do not increase unnecessarily. Initiatives that kept the NZ dollar at a realistic...
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Interest.co.nz
HSBC and the Co-operative Bank both cut some advertised fixed-term mortgage rates and some term deposit rates
22/05/2012
Bank lobby group, the New Zealand Banker’s Association (NZBA), says cuts in fixed interest rates highlight the level of “intense competition” in the New Zealand banking sector.
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Flipside of interest rate cuts
22/05/2012
Recent cuts in fixed interest rates highlight the level of intense competition in the New Zealand banking sector. This is good news for borrowers, but will impact on returns for bank depositors. Interest rates are at historically low levels. This is due to a drop in wholesale interest rates as a result of ongoing uncertainty...
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Interest.co.nz
RBNZ pushes out timeframes for the introduction of the Basel III capital reforms and its Open Bank Resolution policy
10/05/2012
Kirk Hope, CEO of bank lobby group the New Zealand Banker’s Association, said it was positive the timeframe for OBR’s implementation had been pushed back but it was still too tight.
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