Reserve Bank of New Zealand
Month: March 2021
Bullying and harassment at work issues paper
Ministry of Business, Innovation and Employment
As mortgage deferral scheme ends banks may offer still struggling borrowers a further temporary payment deferral, extend the term of the loan to reduce repayments, or move borrowers to interest-only repayments
The New Zealand Bankers’ Association says borrowers whose repayments were deferred due to the COVID-19 pandemic and are still struggling, may get an additional temporary payment deferral, have the term of the loan extended to reduce repayments, or be moved to interest-only repayments for a period.
Covid-19 mortgage ‘holiday’ scheme ends, with 3700 mortgages still in repayment deferral
New Zealand Bankers’ Association chief executive Roger Beaumont said: “Banks are working closely with the few affected customers who still need help to get back on track.”
Loan repayment deferral scheme ends today
The loan repayment deferral scheme introduced a year ago to help borrowers financially affected by the Covid-19 pandemic ends today. The scheme allowed home and business loan repayments to be fully deferred temporarily. Deferrals were made possible by the Reserve Bank allowing these loans not to be viewed as in hardship. Credit reporting agencies also… Read more »
Due diligence duties for directors and senior managers – Draft for consultation
Commerce Commission
Small apartment crisis: The fight back begins
“Banks make their own individual risk-based assessments on all lending applications on a case-by-case basis. This will take into account the risk and security of the asset.”
Banks’ pledge $5 million to support budget mentors
Beaumont said the money provided by banks would provide support and skills to financial mentors working with families.
NZBA and FinCap ink $5 million new partnership
The New Zealand Bankers’ Association and FinCap have today announced a new partnership, with the banking industry contributing $5 million over five years to support the financial wellbeing of all New Zealanders. The collaboration agreement will provide funding for initiatives that will directly benefit the 200 services FinCap supports who provide financial advice to tens… Read more »
Banking Ombudsman Nicola Sladden says new whistle-blowing service offers bank staff ‘a safe and independent channel to sing out and raise concerns’
The banks themselves support the dashboard and whistle-blowing service, with both projects having the backing of bank lobby group the New Zealand Bankers’ Association, the Financial Markets Authority and the Reserve Bank.
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