Stuff
Rates are under 3%, so why do banks still check you can pay 7%?
14/06/2020
“These serviceability rates are reviewed from time to time in line with what’s going on in the market. These rates will vary from bank to bank depending on a number of factors including their particular risk appetite and exposure to certain types of lending. Ultimately it’s all about lending responsibly and doing the right thing...
Read Article
Regulation Asia
New Zealand’s New Conduct Regime Not Adequately Developed
13/06/2020
“It is critical to allow the time to ensure that the legislation and regulations are workable and proportionately address the identified issues, and that financial institutions and their intermediaries have sufficient time to ensure compliance with whatever is set as the final regime.”
Read Article
NZ Herald
Bank and insurance licensing law change doesn’t go far enough, Consumer says
10/06/2020
In its submission the New Zealand Bankers Association’s deputy chief executive and general counsel Antony Buick-Constable said while it supported the underpinning policy goal of the bill – to treat consumers fairly through the lifecycle of financial products – the bill itself needed significant refinement to ensure a clear framework was developed.
Read Article
Stuff
IRD’s Small Business Cashflow Loan Scheme lends more than $1.3 billion
10/06/2020
Roger Beaumont, chief executive of the New Zealand Bankers’ Association (NZBA) expected an increase in loans made by banks under the guarantee scheme in the coming weeks. “As people get through the immediate survival period, they will be able to think about their longer term position.”
Read Article
NZ Herald
RBNZ bank capital proposals slammed in advice to minister
09/06/2020
His analysis is similar to other criticisms of the RBNZ’s proposals and the supporting research, including analysis by former Treasury Secretary Graham Scott on behalf of the NZ Bankers’ Association and former RBNZ official Ian Harrison.
Read Article
NZ Herald
Kiwis reveal their biggest financial worries
08/06/2020
Of those surveyed 62 per cent had a positive attitude towards banks, up two percentage points on the February research and 17 per cent were negative down four percentage points. Those who described the banks as helpful pointed to the mortgage deferral scheme and good communication from the banks.
Read Article
Stuff
Why mortgage holidays are a windfall for banks, who could net up to $100m
06/06/2020
“It’s important to note that banks continue to provide credit through the deferral period while the customer has the peace of mind of not having to repay interest or principal.”
Read Article
Stuff
Elderly woman used friend’s ATM card to steal thousands
03/06/2020
New Zealand Bankers’ Association chief executive Roger Beaumont said generally, financial elder abuse included wrongful use of older people’s money, property and other assets.
Read Article
Stuff
Why don’t credit card rates fall when home loan rates do?
29/05/2020
New Zealand Bankers’ Association chief executive Roger Beaumont said the rates were higher because the loans were unsecured – there is no house or car for the bank to sell to recover debt if you stop paying.
Read Article
Business Desk
Mortgage wars should spark boost to lending
27/05/2020
This is supported by NZ Bankers’ Association figures showing more than 61,400 customers have opted to reduce repayments on loans worth about $20 billion – and another 54,200 borrowers have deferred payments altogether on loans of $19.1 billion.
Read Article
