Newsroom
Open banking will give control to customers – but it comes with risks
09/11/2022
But NZ Bankers’ Association chief executive Roger Beaumont says it’s important we get it right. With so much new regulation and compliance, banks have told the Government they need time to implement challenges such as customer privacy and data security.
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Need to get open banking right to deliver for customers
09/11/2022
It’s important to get it right for customers, says the New Zealand Bankers’ Association in response to the government’s announcement today about open data for banking. New Zealand Bankers’ Association chief executive Roger Beaumont says: “The consumer data right will help make open data sharing a reality for banking and other sectors. It’s important to...
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Business Desk
Mixed reaction to Adrian Orr reappointment
07/11/2022
“The banking industry worked closely with him in the early response to covid and was grateful for his support for banks to offer customers deferred or reduced repayments for around $70 billion in loans.”
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NZ Herald
Banks unfair?
04/11/2022
Last year they made a direct contribution of $8.52 billion to the New Zealand economy by spending $6.12 billion running their businesses here and by paying $2.4 billion in tax. The total contribution is more than their combined profits.
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NZ Herald
Negative equity and rising mortgage rates: Should we be worried?
04/11/2022
People who were facing any significant change in circumstance that would cause them difficulty paying their mortgage – such as losing their job – should ring their bank immediately.
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Stuff
Banks’ big profits ‘mean they have duty to help struggling borrowers’
03/11/2022
“Banks are responsible lenders and when assessing a loan application they apply higher ‘serviceability’ rates to see if you could still repay the loan if interest rates go up. So typically, there’s a buffer already built in for borrowers.”
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Stuff
Banks’ big profits ‘mean they have duty to help struggling borrowers
02/11/2022
“Anyone experiencing financial difficulty should contact their bank to discuss their options. The sooner you talk to your bank, the more likely they’ll be able to help. Options could include lengthening the term of your loan, to reduce the amount of regular repayments. In some cases, temporarily moving to interest-only repayments may also be an...
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Newsroom
Plea for banks to support families and businesses under serious stress
02/11/2022
Bankers’ Association chief executive Roger Beaumont says the country’s banks are very conscious of the impact current economic conditions will have on many New Zealanders. Anyone experiencing financial difficulty should contact their bank to discuss their options.
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Banks supporting households and businesses facing economic headwinds
02/11/2022
In response to the Reserve Bank governor’s comments today about banks supporting households and businesses in the current economic environment, New Zealand Bankers’ Association chief executive Roger Beaumont says: “Our banks are very conscious of the impact current economic conditions will have on many New Zealanders. Anyone experiencing financial difficulty should contact their bank to...
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Business Desk
Reserve Bank stress test shows more bank capital is unnecessary
31/10/2022
The NZ Bankers’ Association commissioned an analysis from former Treasury secretary, Dr Graham Scott, which estimated the proposals would cost households, businesses and the economy about $1.8b a year.
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