- “We’re particularly pleased that the FMA has confirmed there are no systemic conduct issues around the use of the benchmark. That provides an assurance that banks can use the rate with confidence,” Scott-Howman says.
- NZBA has come out against the Reserve Bank adding a debt-to-income ratio tool to its macro-prudential toolkit. But the bank lobby group has suggested a serviceability interest rate, or SIR, as a potential alternative.
- The New Zealand Bankers’ Association has repeatedly denied claims its members apply “blanket de-risking” policies. Rather it says banks consider prospective clients’ risks on a case-by-case basis.
- “They only provide information to the Police when they receive a production order that legally requires them to provide information or when the request complies with the Privacy Act.”
- Debt can finance personal, household and business needs and aspirations. That’s the New Zealand Bankers’ Association’s response to Money Week’s big question: what does debt do for you? “We often need to borrow money to buy our own home or get a business off the ground. That’s the kind of debt our banks are here to... Read more »
- August 12, 2017 – Climate change is recognised as a potential financial risk by New Zealand banks and the NZBA is working with groups such as Deep South Challenge to get a greater understanding of the risks from climate change on investments, said chief executive Karen Scott-Howman.
- The Banking Ombudsman Scheme has been providing a free and independent disputes resolution service for 25 years. That’s an important milestone for banks customers, and something worth celebrating, says the New Zealand Bankers’ Association. “The Banking Ombudsman has made an incredibly valuable contribution to banking in New Zealand since 1992,” says New Zealand Bankers’ Association... Read more »
- Karen Scott-Howman Published in Stuff BusinessDay, 18 July 2017 In 1992 two things happened that changed banking in New Zealand for good. In that year the Banking Ombudsman was established and the Code of Banking Practice was first published. Unless you’ve had a problem with your bank, you might not think much of this. So... Read more »
- The New Zealand Bankers’ Association has struck a surprisingly aggressive tone in its initial submission on the Reserve Bank’s review of banks’ capital adequacy requirements.
- New tax law that comes into force on 1 July will require banks to provide Inland Revenue with tax information for certain customers. The new law, aimed at reducing global tax evasion, means that banks and other financial institutions will need to identify accounts held by foreign tax residents. They will then have to report... Read more »
