Newsroom
Banks want small-timers to pay higher levies to guarantee deposits
27/04/2021
“One issue that will need working through is how the levies to fund the scheme are applied to participating entities,” said Roger Beaumont, chief executive of the NZ Bankers’ Association. “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...
Read Article
Regulation Asia
New Zealand to Introduce Deposit Guarantee Scheme by 2023
23/04/2021
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.
Read Article
Stuff
Deposits of up to $100,000 guaranteed under new scheme
22/04/2021
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.
Read Article
Interest.co.nz
Government takes feedback on board and doubles coverage of proposed deposit insurance scheme to $100k per depositor, per institution
22/04/2021
The New Zealand Bankers’ Association supports risk-based pricing. CEO Roger Beaumont hoped this would see banks pay lower levies.
Read Article
NBR
Guarantee scheme only covers 40% of deposits
22/04/2021
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.
Read Article
RNZ
Bank insurance scheme to protect up to $100,000 of each depositor’s funds
22/04/2021
“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.”
Read Article
Deposit guarantee scheme provides extra security for depositors
21/04/2021
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 Article
Stuff
Countdown to stop taking cheques in May
16/04/2021
“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.”
Read Article
Hub banks will not close regional branches for rest of 2021
12/04/2021
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 Article
RNZ
Banks promise no further regional branch closures this year
12/04/2021
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.
Read Article
