Ministry of Justice
Month: October 2017
NZ prepares to join the ‘open banking’ revolution
“We are very open to have conversations, but so far there’s no regulator which has consulted publicly on it.” Scott-Howman stresses the importance of security of people’s financial data.
Buyers caught out by home loans falling through
“Banks are particularly interested in the borrower’s ability to repay the loan, and the security provided for the loan. People seeking home loans need to be up front with the bank about their personal circumstances, such as existing financial obligations and outgoings.”
FMA’s BKBM guidance hailed as ‘pragmatic, practical and sensible’ guidance that ‘stands out globally’
“We’re particularly pleased that the FMA has confirmed there are no systemic conduct issues around the use of the benchmark. That provides an assurance that banks can use the rate with confidence,” Scott-Howman says.
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