Month: September 2020

Labour promises to extend interest free loans, regulate card fees

“We look forward to seeing the detail of what’s being proposed in this complex area. We’d be happy to engage in any consultation that results from this policy proposal,” said Roger Beaumont, chief executive of the NZ Bankers’ Association.

Labour warned: merchant fee regulation not easy

Bankers’ Association chief executive Roger Beaumont said he “looked forward to seeing the detail of what’s being proposed in this complex area. We’d be happy to engage in any consultation that results from this policy proposal.”

Code of Banking Practice translations now available

The Code of Banking Practice is now available in six other commonly used languages the New Zealand Bankers’ Association announced today. “We wanted to make the Code more widely available, and that includes to people who don’t speak English as their first language. That’s why we’ve translated the Code into te reo M­āori, Samoan, Tongan,… Read more »

As of July 31 a total of $73.7 billion of bank loans were receiving some form of COVID-19 related relief. Gareth Vaughan speculates on what might happen to banks’ non-performing loan ratios when the deferral scheme eventually ends

The deferred loan figures come from the New Zealand Bankers’ Association (NZBA). For consumer lending these show 88,558 customers making reduced loan repayments on loans valued at $27.5 billion. Another 61,063 customers had deferred payments on all loans to the value of $20.9 billion. These consumer lending figures, as of July 31, cover home loans, personal lending, credit cards and… Read more »