New Zealand Bankers’ Association chief executive Kirk Hope said it had no issue with an industry contribution to FMA costs but the levy was disproportionate to the benefits received.
Month: June 2012
FMA levy misses the mark
The New Zealand Bankers’ Association today expressed disappointment at the government’s announcement on the way it intends to levy the financial sector to fund the Financial Markets Authority. “Banks are well-regulated responsible lenders operating at the top end of the market. “The levies should better reflect the costs and benefits where they actually fall,” said… Read more »
Homeowners’ good news is savers’ loss
While homeowners are jumping up and down with excitement over the low mortgage rates, savers aren’t having so much fun. “Balancing the needs and aspirations of borrowers and depositors, within the context of global uncertainty and a very competitive market, provides plenty of challenges for our banks,” Hope says.
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