“We note that some central banks, most notably the Federal Reserve, have suggested that CBDC’s may be a ‘solution looking for a problem,’ and that even where there are problems in the payment system, there are more effective means to resolve them than a CBDC,” NZBA said.
Month: February 2022
Credit crunch or responsible lending? Has the law gone too far?
Clark has already pointed the finger at the banks, hinting that they may not have been complying with responsible lending obligations before the changes came in. However in a statement this week, the New Zealand Bankers’ Association said it did not know what Clark was referring to.
Future of Money – Central Bank Digital Currency
Reserve Bank of New Zealand
Future of Money – Stewardship
Reserve Bank of New Zealand
Review of AML/CFT Act
Ministry of Justice
Minister stands by lending rules, says he will listen
“Banks take their obligations to comply with the law very seriously. That was the case before the rule change and remains the case.”
Roger Beaumont: Banks are taking the lending rules seriously
Clark said banks weren’t adhering to responsible lending rules before new legislation came in last year. The Bankers Association’s Roger Beaumont told Heather du Plessis-Allan Clark’s not correct.
Banks deny minister’s irresponsible lending accusation
“We’ve made several submissions on the CCCFA law change and new regulations since 2018. In our submissions we’ve set out our concerns all along the way. The investigation might be able to clarify some of those concerns and hopefully identify some useful solutions.”
Lending probe: David Clark hints banks not following the rules
“The suggestion that banks were not complying with their responsible lending obligations before the latest CCCFA changes comes as a surprise. Banks are simply complying with the new rules as they are written.
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