- The New Zealand Bankers’ Association chief executive Karen Scott-Howman says: “Under the law banks do not de-risk whole classes of customers. Instead, they apply their obligations under the AML/CFT regime on a case by case basis.
- New Zealand banks operate in a different environment from those in Australia. Here we have strong and independent regulators, a very competitive banking sector and high levels of customer satisfaction.
- New Zealand Bankers’ Association chief executive Karen Scott-Howman said the way people banked had “changed hugely” in recent years. She said “only a fraction” of banking transactions were done in branches these days. “This means some branches no longer make commercial sense.”
- As part of Privacy Week the New Zealand Bankers’ Association is reminding people how to keep their banking safe from financial crime. “Banks take their customers’ privacy and confidentiality very seriously by protecting their systems and customer information. We all have a role to play in keeping our money safe from fraudsters,” says New Zealand... Read more »
- Banks are responsible lenders and take into account a number of factors when making lending decisions. That includes testing affordability at higher interest rates and factoring in realistic essential expenditure.
- Lending decisions on any property are made on a case by case basis. It’s quite possible that in time banks would require more equity or shorter term mortgages when considering lending on potentially affected coastal properties.
- New Zealand Bankers’ Association chief executive Karen Scott-Howman said the Reserve Bank had “stress-tested” our banks and found them strong enough to withstand a severe downturn.
