Stuff
Consumers ‘data rights’ law to smash banks’ stranglehold
19/12/2019
“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.”
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Interest.co.nz
Parent of New Zealand’s biggest bank confident of meeting higher capital requirements
06/12/2019
“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.
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NZ Herald
Banks need to raise $20 billion to meet tough new Reserve Bank requirements
05/12/2019
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.
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TVNZ
Banks will have to hold more capital to ensure Kiwis’ cash is safe
05/12/2019
Banks will have to hold more capital, possibly leading to a small rise in interest rates, the Reserve Bank has revealed.
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Newshub
Reserve Bank orders banks to increase capital by $20 billion
05/12/2019
“It’ll be a matter of months rather weeks before the implications are made clear.”
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NZ Herald
Banking industry warning: ‘There will be an economic impact’
05/12/2019
“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.”
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Banking industry welcomes conclusion to RBNZ capital review process
04/12/2019
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’...
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Stuff
Prime Minister Jacinda Ardern warns banks to be mindful about farm debt
04/12/2019
New Zealand Bankers’ Association chief executive Roger Beaumont said banks worked closely with any agricultural customers who were experiencing financial issues.
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Interest.co.nz
Gareth Vaughan details six key changes proposed by the RBNZ in its bank capital review
03/12/2019
A report commissioned by bank lobby group the New Zealand Bankers’ Association, heavy on criticism of the capital proposals, argued the potential benefits of appealing prudential regulatory decisions on their merits are large.
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TVNZ
One in four farmers feel under pressure from banks to reduce debt, survey finds
29/11/2019
The Bankers Association says lenders work closely with farmers and it points to the low number of mortgagee farm sales – fewer than 10 a year out of 52,000 farms across the country.
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