- The Bankers Association says with 14 retail banks, people should shop around. It also says banks work with people with poor credit history to try and improve it, but accounts are never closed without good reason.
- “Banks are at different development stages in this area. It’s important we get the foundations right to ensure good customer outcomes. That includes making sure customer data is kept secure and there’s clarity on liability in case of any breach.”
- “Today’s announcement provides our banks with certainty on the amount and type of capital they will need to hold in future, and brings an end to a robust consultation,” says New Zealand Bankers’ Association chief executive Roger Beaumont.
- Citing an economic review, NZBA has said lifting the capital requirements would have economic welfare costs of $1.8 billion a year and that it would disproportionately affect agricultural, small business lending, and savers.
- “Today’s announcement will have an economic impact and each bank will now consider the implications for their business and customers, and will be developing their own commercial response.”
- The New Zealand Bankers’ Association today welcomed the conclusion of the Reserve Bank’s review of how much capital New Zealand’s banks should hold. “Today’s announcement provides our banks with certainty on the amount and type of capital they will need to hold in future, and brings an end to a robust consultation,” says New Zealand Bankers’... Read more »
- New Zealand Bankers’ Association chief executive Roger Beaumont said banks worked closely with any agricultural customers who were experiencing financial issues.
