NZ Herald
Covid 19 coronavirus: Lockdown was a ‘dark time’ for many: Retirement commissioner
26/05/2020
“Banks are working hard to help customers in need. That’s reflected in the fact over 115,000 customers have reduced or deferred all home loan repayments since we went into level 4 lockdown, for loans totalling nearly $40 billion. Now that we’re at level 2 some of these customers are starting to see a way through...
Read Article
NZ Herald
On a six-month loan holiday? Expect contact from your bank soon
22/05/2020
Beaumont encouraged borrowers who had deferred their loans to keep in touch with their bank if their circumstances changed. “It’s in borrowers’ interests to start repaying their loans as soon as they can. That may be before the deferral period ends.”
Read Article
Stuff
Households already coming off home loan ‘holidays’, banks say
21/05/2020
At the end of Monday, 59,237 bank borrowers were making reduced repayments on their home loans, or other loans, and 53,779 were on complete repayment holidays, figures from the New Zealand Bankers’ Association showed.
Read Article
NZ Adviser
Banks commit to paying suppliers faster amid COVID-19 crisis
20/05/2020
“Last year, our banks spent $5.7 billion running their businesses in New Zealand. That includes paying local businesses for goods and services. We expect this initiative will make a difference for many businesses.”
Read Article
Interest.co.nz
David Hargreaves has a deeper dive through the Reserve Bank’s latest figures on mortgage lending by debt-to-income ratio and finds that buyers across the spectrum have been stretching themselves further
18/05/2020
According to NZ Bankers Association figures nearly 54,000 bank customers with mortgages of just under $19 billion have gone on the six month repayment ‘holiday’, which was offered in March.
Read Article
Interest.co.nz
RBNZ Governor says banks will need to be ‘forgiving’ as more people are set to lose their jobs as mortgage repayment deferrals expire
18/05/2020
According to the New Zealand Bankers’ Association, banks approved repayment deferrals on $18.9 billion of consumer loans to 53,779 customers, in the nearly two months to May 18.
Read Article
Business Desk
Government to private sector: please pay your bills faster
18/05/2020
The banking sector, meanwhile, is on board and committing to paying suppliers of goods and services within two weeks, New Zealand Bankers’ Association chief executive Roger Beaumont said.
Read Article
Stuff
Pay small businesses as soon as possible, Government urges big business
18/05/2020
“We’re pleased to make this commitment to support New Zealand businesses. It’s another way in which we’re supporting our economic recovery.”
Read Article
Banks commit to pay suppliers faster
18/05/2020
New Zealand’s banks are committing to paying suppliers of goods and services within two weeks. This initiative matches the government’s target for public sector agencies to pay 95% of invoices from New Zealand-based businesses within 10 working days. “The economic impact of the Covid-19 pandemic means that many small and medium-sized businesses now need good...
Read Article
NBR
Prepare for negative rates, banks warned
13/05/2020
“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
