- New Zealand Banking Association chief executive Roger Beaumont said the latest tweaks to the CCCFA regulations still meant affordability assessments were needed for all types of lending and borrowers.
- The New Zealand Banking Association shared that, in its opinion, requiring local Internet Service Providers (ISPs) to block certain providers of online gambling services would have a much bigger impact on tackling gambling-related harm.
- “If credit cards are blocked, other payment methods – for example, debit cards, Paypal, WeChat, AliPay, through the purchase of ‘tokens’ on eBay or TradeMe, etc – can be used to gamble online,” the association said.
- The New Zealand Banking Association says while the Reserve Bank is raising the cost of borrowing to help fight inflation, people are starting to borrow less. That’s also a reflection of the property market.
- Data from the New Zealand Banking Association, released on Monday, shows new home loan values have dropped 18.9 percent in the six months to last December.
- “It shows that many people took advantage of interest rates when they were at historic lows. They likely retained their repayments at the same level as before, or increased them, to help repay their loans faster and save on the overall loan cost. It also means that nearly half the people with home loans had... Read more »
- The NZBA figures showed that there are nearly 1.26 million home loans across 1.09 million customers. The average value of all home loans is $316,019. Of the 45,628 new home loans opened in the last six months of 2022, 26.1% were issued to first home buyers.
- The value of new home loans decreased 18.9% in the six months to December 2022, according to data insights released by the New Zealand Banking Association today. This comes as borrowers face steeply rising interest rates and a nationwide drop in property values. “Many households are doing it tough in the face of the rising... Read more »
- New Zealand Banking Association Te Rangapū Pēke chief executive Roger Beaumont said banks were working to address financial inclusion issues, “which often needs to be balanced with the need to comply with legal and regulatory obligations, including things like anti-money laundering law”.
- But the New Zealand Banking Association has said banks need time to build quality products for consumers, and were already inundated with regulation demands.
