RNZ
CrowdStrike glitch: Kiwi firms warned to stay vigilant as hack threats linger
22/07/2024
Beaumont applauded local banks for how they managed the outage. “Given the scale of the issue and the global nature of the issue, our banks responded incredibly fast, and were able to affect change and resume normal services relatively quickly for customers.”
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TVNZ
The closing-time trick used by ‘smurfs’ to launder money in NZ’s banks
06/07/2024
“All banks have systems in place to help them comply with their anti-money laundering obligations, including processes to monitor and report suspicious activity. Banks are also subject to continuous supervision from the Reserve Bank of New Zealand.”
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Crux
More ratepayer distress as QLDC makes claims on 594 personal bank accounts
24/06/2024
“In this case, it appears the local authority is exercising its power under the Local Government (Rating) Act 2002 to collect the rates due. Banks take their obligations to comply with the law very seriously.”
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Farmers Weekly
Bank inquiry takes NZ down risky road, expert says
20/06/2024
The NZ Banking Association argues higher rates for farmers can be attributed to Reserve Bank rules requiring its members to hold more capital to insulate against losses from riskier rural loans.
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Business Desk
Rural banking inquiry a good opportunity, ASB says
13/06/2024
The NZ Banking Association, in its submission to the select committee, said farms were a business so “inherently riskier” than a home loan as risk and price was based on the ability to repay the loan if something goes wrong.
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TVNZ
Bank bosses to be called to account for profits in front of MPs
12/06/2024
Banking Association chief executive officer said banks had “nothing to hide”. “We’re a very open and transparent industry, it’s partly because we’re so heavily regulated, we’re happy to be open and transparent.”
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Consumer NZ
When is your bank liable for scam losses?
10/06/2024
In response, the New Zealand Banking Association said it would review international best practice in this area by September 2024 and consider updating the current approach in the Code of Banking Practice.
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NZ Herald
Banks extend commitment to keep Whangamatā hub open
07/06/2024
Beaumont said the trial found customers used the banking hubs less than they would single-brand bank branches, which was why the participating banks recently decided to renew their commitment not to close regional branches for another three years.
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TVNZ
BNZ making major change to when its branches will open
06/06/2024
New Zealand Banking Association chief executive Roger Beaumont said there wasn’t “significant demand” for the physical services, but most of the hub network will remain.
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Business Desk
Business lending rates reach 33-year highs
05/06/2024
“Our banks currently hold around $60 billion in capital. That investment is essential to banking in New Zealand and, to maintain that investment, their owners need a return. The banks’ return on equity is average compared to other major New Zealand businesses,” Beaumont said.
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