Financial Markets Authority
Month: February 2020
Finance Minister Grant Robertson says New Zealand is in a strong position to respond to the impacts of coronavirus
Bank lobby group the New Zealand Bankers’ Association says businesses and individuals financially affected by coronavirus should talk to their bank.
Indebted farmers offered $6000 to receive financial advice
“It’s not a concern about any significant uplift in farmers in distress. No bank wants to see any business fail. To put it into perspective, there are about 52,000 farms and there are fewer than 10 mortgagee sales a year,” Beaumont said.
Coronavirus affected customers urged to talk to their bank
The New Zealand Bankers’ Association is encouraging businesses and individuals financially affected by coronavirus (Covid-19) to talk to their bank. “We’re aware that some businesses, particularly small to medium sized ones, are being financially impacted by this unfolding global issue. The same may apply to individual customers working in sectors directly affected. Banks can offer… Read more »
New fund for farmers struggling financially now running
Beaumont said the independent advice would help inform conversations between the farmer and their bank.
Initiative for struggling farmers launches
“There’s a recognition it’s in everyone’s best interest for a farmer to have up-to-date business and financial plans,” said New Zealand Bankers’ Association chief executive Roger Beaumont.
New fund to get advice for struggling farmers is now open
A new initiative funded by banks and the government offering support for farmers struggling with farm debt is now up and running. The government has allocated $200,000 for the Farm Business Advice Support Fund, to be managed by Rural Support Trusts. For a qualifying farmer the fund will provide up to $6,000 to pay for… Read more »
Credit Contracts and Consumer Finance Amendment Regulations 2020 – Content of annual returns
Ministry of Business, Innovation and Employment
Banks coming down hard on farmers to ‘flick’ Government over Reserve Bank capital holding rules, minister says
New Zealand Bankers’ Association chief executive Roger Beaumont said banks worked closely with farming customers and that was reflected in the low number of mortgagee sales in the sector. There were about 52,000 farms in New Zealand and fewer than 10 farm mortgagee sales a year, he said.
Retentions regime consultation: Possible amendments to the Constructions Contracts Act 2002
Ministry of Business, Innovation and Employment
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