Media Releases

Media Releases

Sound banks support economic growth

- New Zealand banks continue to be strong and stable according to KPMG’s Financial Institutions Performance Survey for the 2013 financial year. “Our banks are among the best funded and regulated in the world, and highly competitive. That’s good for New Zealand households, businesses and our economy,” said New Zealand Bankers’ Association chief executive Kirk Hope.... Read more »
Media Releases

Get set for rising interest rates

- Now is a good time to prepare for rising mortgage interest rates said the New Zealand Bankers’ Association in response to the Reserve Bank of New Zealand’s Official Cash Rate statement today. While the OCR has been left unchanged at 2.5%, the Reserve Bank has recently projected the cash rate could rise by 2.25% over... Read more »
Media Releases

New build LVR exemption welcomed

- The New Zealand Bankers’ Association has today welcomed the Reserve Bank’s move to exempt new residential construction loans from the loan-to-value (LVR) restrictions it introduced on 1 October. “We’ve said all along that supply has always been the issue in parts of the housing market, not the availability of cheap credit,” said New Zealand Banker’s... Read more »
Media Releases

Foil the fraudsters this festive season

- As the festive season approaches the New Zealand Bankers’ Association has reminded people how to avoid fraud and scams over the holidays. “Don’t let fraudsters spoil this special time of the year. Whether we’re shopping or away on holiday, it pays to take care,” said New Zealand Bankers’ Association chief executive Kirk Hope. If you’re... Read more »
Media Releases

Covered bonds law puts New Zealand on even footing

- The third reading of the Reserve Bank of New Zealand (Covered Bonds) Amendment Bill today has been welcomed by the New Zealand Bankers’ Association. The Bill establishes a legislative framework for issuing covered bonds and enhances the Reserve Bank’s supervision of covered bond programmes. “The new law brings us into line with other jurisdictions. This... Read more »
Media Releases

KiwiSaver fund finder welcomed

- The New Zealand Bankers’ Association has welcomed an independent tool to help people find a KiwiSaver fund that suits them best. KiwiSaver fund finder was launched today by the Commission for Financial Literacy and Retirement Income and is available on the Commission’s Sorted website. The interactive online tool, which has also been designed for mobile... Read more »
Media Releases

Money mule scam warning

- People should be wary of transferring money on behalf of people they don’t know. The warning was issued today by the New Zealand Bankers’ Association in response to a new banking scam. In the latest scam people are contacted by strangers, by email, telephone or through social media sites, claiming they have accidently paid funds... Read more »
Media Releases

Retirement income review provides practical way forward

- The New Zealand Bankers’ Association has today welcomed the Review of Retirement Income Policies discussion document released by the Commission for Financial Literacy and Retirement Income. “The discussion document contains several practical recommendations that, if implemented, will help New Zealanders better prepare for retirement. This is especially important as we face an ageing population that’s... Read more »
Media Releases

Land for more houses good for Auckland housing supply

- A joint government and Auckland Council move today to make land available for 6000 new affordable houses in ten more special housing areas has been welcomed today by the New Zealand Bankers’ Association as a positive step in addressing the housing supply issue in Auckland. “The big issue in the Auckland housing market is a... Read more »
Media Releases

Borrowers urged to talk to their bank as lending limits loom

- The New Zealand Bankers’ Association has urged prospective borrowers to talk to their bank as the Reserve Bank’s low equity lending restrictions come into force next week. Under the Reserve Bank’s new rules which take effect on October 1, banks must limit new residential mortgage lending with loan-to-value ratios (LVR) over 80% to no more... Read more »