Month: June 2019

NZBA welcomes farm debt mediation announcement

The New Zealand Bankers’ Association today welcomed the government’s announcement that it will introduce a bill to set up a farm debt mediation scheme. “Banks are responsible lenders that take a long-term view to the rural sector. They know the vital role farmers play in the economy and that it’s important they succeed,” says New… Read more »

‘Hidden’ currency conversion fees costing Kiwis billions

“International money transfers made from a banking app or by internet banking usually include a fee to cover other overseas bank costs. And there will also be an exchange rate conversion fee if sending money in a currency other than New Zealand dollars.”

Farmer satisfaction with banks slips further

New Zealand Bankers’ Association chief executive Roger Beaumont, who is pleased to see most farmers remain satisfied with their bank, said he expects RBNZ’s capital requirements proposal to a net cost to the New Zealand economy of $1.8 billion a year.

New Zealand’s banking sector inching close to warfare

NZBA has denied suggesting that the government should ever bail out the banks, saying that instead an independent report merely speculated that in the event of a bank failure, a government would be reluctant to allow customers to take a haircut on their deposits.