“While the FMA and RBNZ review into banking conduct last year found no evidence of widespread misconduct, the industry believes that trust is central to customer relationships and welcomes any moves to improve this.”
Author: Philip vanDyk
Banks may become cautious lenders following report
“We will also work closely with the government on the recently announced fast-tracking of regulation for further customer protection in the financial sector.”
Consultation document: Safeguarding the future of our financial system – The role of the Reserve Bank and how it should be governed
Treasury and the Reserve Bank of New Zealand
Retired banker protests banks’ ‘stranglehold’ on lending
Priority amounts are a dollar amount that mortgagees set in their mortgage terms and conditions, set by banks’ internal credit policies. The dollar amount reflects the maximum amount that the mortgagee can recover ahead of other mortgagees if there is a mortgagee sale.
New CEO appointed to New Zealand Bankers’ Association
Roger Beaumont has today been named as Chief Executive of the New Zealand Bankers’ Association, the organisation that represents the New Zealand banking industry. NZBA Chair David McLean, CEO of Westpac, says they are delighted to have been able to appoint someone with such strong credentials in both the banking sector and stakeholder management area,… Read more »
Consultation Paper – Public and private reporting by banks of breaches of regulatory requirements, with consideration of materiality
Reserve Bank of New Zealand
Review of the Protected Disclosures Act 2000
State Services Commission
Borrowing costs set to rise as banks face tougher rules if Reserve Bank proposal becomes reality
Reserve Bank stress tests show banks can withstand a 40 per cent fall in house prices.
RBNZ proposes significant increase in bank capital requirements that will eat up 70% of the sector’s profits over 5 years
Buffers ensure banks have sufficient capital to get through a serious economic downturn. However, too large a buffer limits banks’ ability to innovate and enhance customer outcomes.
Banks asked to take on bigger share of market risk
New Zealand Bankers’ Association acting chief executive Antony Buick-Constable said: “New Zealand’s banks are currently very well capitalised and among the most stable and secure in the world.”
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