- Beaumont also said the deposit protection scheme needs to take into account the higher minimum capital requirements to be phased in for banks, which he says will come at a high cost and is intended to help banks withstand a one-in-200-year shock.
- The Bankers’ Association supported a risk-based approach to setting levies, where lower risk entities such as banks would pay lower levies because they were less likely to call on the scheme, said chief executive Roger Beaumont.
- Another factor to take into account was higher minimum capital requirements to be phased in for banks, which came at a high cost and were intended to help banks withstand a one-in-200-year shock.
- “We support a risk-based approach to setting levies where lower risk entities, such as banks, pay lower levies because they are less likely to call on the scheme.”
- The deposit guarantee scheme announced today by the government will provide even more security for people who have bank deposits. “Our banks are among the best capitalised and regulated in the world. We saw their strength and resilience through the global financial crisis, when there were no bank failures or bailouts in New Zealand. And,... Read more »
- “Some banks have individually made their own commercial decisions to phase out cheques. Some have announced dates for this, while at least one already does not accept or issue them. We’re not aware that any previously announced dates have changed.”
- The six banks participating in the Regional Banking Hubs trial are renewing their commitment to not close regional branches until the end of the year, when the trial concludes. The September 2019 announcement of the hubs pilot included a voluntary commitment to not close regional branches for the period of the trial. The full commitment... Read more »
- ANZ, ASB, BNZ, Kiwibank, TSB and Westpac announced today they would honour an earlier commitment not to shut any regional offices until a pilot of four small-town banking hubs wraps up.
- The New Zealand Bankers’ Association says borrowers whose repayments were deferred due to the COVID-19 pandemic and are still struggling, may get an additional temporary payment deferral, have the term of the loan extended to reduce repayments, or be moved to interest-only repayments for a period.
