NZ Herald
Covid 19 coronavirus: Payments on more than 80,000 loans reduced or deferred
17/04/2020
The NZBA said that across its membership, payments had been lowered on 41,436 loans worth $14 billion, while repayments had been deferred entirely on 40,918 loans worth $14.5b.
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NZ Herald
Covid 19 coronavirus: Reserve Bank urges banks to consider ‘social responsibility’ in business lending
15/04/2020
New Zealand Bankers’ Association chief executive Roger Beaumont said the group would be publishing aggregated data “which will show how banks are supporting both business and personal customers in practical ways”.
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Stuff
Banks promise Covid-19 mortgage holidays won’t reduce credit scores
09/04/2020
“Given the extraordinary circumstances it seems fair that individual credit ratings are not affected by a pandemic-related mortgage deferral.”
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Mortgage deferrals will not affect customer credit ratings
08/04/2020
Anyone who has deferred their mortgage repayments for up to six months because they are financially impacted by Covid-19 will not have their credit rating affected as a result of the deferral, provided they were not in arrears before the pandemic. Banks have agreed this initiative with credit reporting agencies. New Zealand Bankers’ Association chief...
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NZ Herald
Coronavirus Covid-19: Fitch downgrades bank ratings on tough economic conditions
08/04/2020
“The latest ratings reflect what’s happening in the environment in which banks are operating rather than the banks themselves,” said New Zealand Bankers’ Association chief executive Roger Beaumont.
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Stuff
Banks told: Don’t charge interest on mortgage holidays
01/04/2020
“Last week we announced that New Zealand’s retail banks are offering mortgage repayment deferrals. That represents immediate financial relief for many customers. Banks do not profit from this. In fact, they cover the cost of providing that credit for the period of the deferred payments.”
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$6.25 billion in new lending available to Covid-19 affected businesses
01/04/2020
New Zealand’s banks are offering up to a total of $6.25 billion in guaranteed loans to businesses financially impacted by Covid-19. Eligible businesses can apply to their bank for new lending under the scheme from today. “Businesses are at the heart of our economy and we know many are doing it tough as a result...
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NZ Herald
Nine banks to start lending govt-backed $6.25b for business immediately
31/03/2020
“Banks will follow their normal credit assessment processes to see if businesses qualify for the scheme and will take into account the circumstances businesses find themselves in due to covid-19.”
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Interest.co.nz
More detail unveiled on which businesses are be eligible for an 80% taxpayer-backed bank loan to get them through the COVID-19 crisis
31/03/2020
New Zealand Bankers’ Association CEO Roger Beaumont said banks’ credit assessments typically take 10 working days.
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Stuff
Applications open for $6.25 billion of loans to struggling businesses
31/03/2020
“Businesses are at the heart of our economy and we know many are doing it tough as a result of Covid-19,” said Beaumont.
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