- New Zealand Bankers’ Association chief executive Kirk Hope said the new regulations would make borrowing more difficult for Auckland property investors. But they would have limited impact on prices. “The real issues driving housing affordability in Auckland are the lack of housing supply, and strong inward migration, not the availability of cheap credit.”
- Banks consider how vulnerable money remitters are based on whether they are registered, accept cash deposits frequently or deposits with a high value, process transfers to or from high risk jurisdictions, aggregate bulk payments and thus remove the transparency on their clients, have little or no upper limits on the value or frequency of transactions,... Read more »
- “New Zealand is an importer of capital – it’s not a new thing, we’ve always been like that and we will probably have to be for some time. So this is going to tax that more: it does mean extra costs. And any extra costs means, potentially, increased lending costs for businesses and consumers.”
- The New Zealand Bankers’ Association today announced that Chapman Tripp and Visa New Zealand have joined the Association as its latest affiliate members. “We are pleased both Chapman Tripp and Visa have decided to formalise their relationship with the Association and are delighted to welcome them as affiliate members,” said New Zealand Bankers’ Association Chief... Read more »
- In response to the LVR changes announced today by the Reserve Bank, the New Zealand Bankers’ Association said that banks will work to meet the new obligations but warns that demand side initiatives are only one part of the solution. “We look forward to seeing more detail on the proposal and working with the Reserve... Read more »
- New Zealand Bankers’ Association boss Kirk Hope said Islamic mortgages were likely to be a niche product, and was not surprised banks had not yet taken an interest.
