Stuff
Reserve Bank considers extending home loan holiday lifeline
07/07/2020
Bankers’ Association chief executive Roger Beaumont said “mortgage deferrals could provide borrowers financially affected by Covid-19 with immediate relief at an uncertain time.
Read Article
NZ Herald
Reserve Bank considering extension of mortgage deferral scheme
07/07/2020
Beaumont said before making any decisions to extend mortgage deferrals banks would need to assess the customer need. “It would also involve discussions with regulators and credit reporting agencies on any impact to responsible lending obligations and how the deferred loans are treated.”
Read Article
Business Desk
Govt’s bank-administered business loans still tiny
06/07/2020
The BFGS lending is also dwarfed by other bank lending to businesses since March 26 when the nation went into lockdown to prevent the spread of covid-19. Banks have lent $12.6 billion in new loans to 21,875 businesses between then and June 30. That’s up from $7 billion on May 26.
Read Article
NZ Adviser
Kiwibank to chair Bankers’ Association for first time
30/06/2020
Kiwibank chief executive Steve Jurkovich has been appointed the new chair of the New Zealand Bankers’ Association. He will be taking over from Westpac CEO David McLean, who chaired the NZBA for three years.
Read Article
Kiwibank to chair New Zealand Bankers’ Association
30/06/2020
Kiwibank chief executive Steve Jurkovich has been elected chair of the New Zealand Bankers’ Association and takes on the role today. This is the first time Kiwibank has chaired NZBA. ASB chief executive Vittoria Shortt was elected deputy chair. The chair and deputy chair take on their respective roles for two years. New Zealand Bankers’...
Read Article
Interest.co.nz
The Business Finance Guarantee Scheme that’s failed to fly was announced on the fly, without banks on board and with Treasury aware small business were actually most in need
25/06/2020
The New Zealand Bankers’ Association confirms Treasury officials met with its members, including the CEOs of the country’s biggest banks, on March 16 to talk at a high level about the possibility of introducing a term lending facility.
Read Article
Stuff
We’ve painted ourselves into a corner with low interest rates, can we get out?
22/06/2020
“Other important factors that determine retail interest rates include the cost of wholesale funding from overseas and the cost of domestic funding, which includes rates of return on retail bank deposits.”
Read Article
Stuff
Here are five money mistakes to avoid during this year’s downturn
20/06/2020
“They’re doing it to provide immediate loan relief to customers in need who have been financially affected by the pandemic. It gives them the ability to defer all loan repayments at an uncertain time, and interest continues to accumulate. Banks are responsible lenders and suggest customers only defer all loan repayments if they need to.”
Read Article
Interest.co.nz
Start date for four regional banking hub pilots pushed back until ‘social activity is as close to normal as possible
19/06/2020
“We, and the six participating banks, want to make sure the hubs have the best chance to succeed. That makes it important that the pilot is run when social activity is as close to normal as possible. Otherwise the visitation and transaction data we need to test the viability of these hubs won’t provide a...
Read Article
NZ Herald
Covid 19 coronavirus: Ombudsman prepares for onslaught of banking complaints
15/06/2020
A survey by the New Zealand Bankers’ Association last month found New Zealanders’ broadly positive attitude towards the banks had increased slightly but not significantly and this had been spurred by the introduction of the six monthly mortgage deferral scheme.
Read Article
