Media

Good Returns - Bankers Association agrees rules can be difficult

October 6, 2021 - “As an industry we sometimes find implementing deadlines can be challenging,” Beaumont said. “For example, the law sets a compliance date but the more detailed regulations or guidance are not available until close to the deadline.”

Interest.co.nz - Fairness issues raised over Reserve Bank’s decision to close the door on first-home buyers who don’t have deposits of at least 20%

September 27, 2021 - The New Zealand Bankers’ Association asked for the first reporting period the rules will apply to, to be extended by three months to March 31. “Without this period, banks will need to temporarily slow high LVR lending in a much more dramatic way to meet the new requirements.”

NZ Herald - Banking watchdog reports deluge of hardship complaints, big rise in scams

September 6, 2021 - NZ Bankers’ Association chief executive Roger Beaumont told the Herald, “All banks can offer options for customers experiencing hardship. We’ve been particularly conscious of this through the economic impact of Covid-19.

Xinhua - Calls to banks up 20 pct through COVID-19 lockdown in New Zealand

September 4, 2021 - “Last year, under the loan repayments deferral scheme agreed with the government, Reserve Bank and credit rating agencies, around $70 billion in household and business loans had repayments fully deferred or reduced for up to six months. We’re not seeing the need to bring back the scheme at this stage but deferring or reducing repayments... Read more »

RNZ - Banks see less demand for assistance compared to previous lockdown

September 3, 2021 - “While it’s true there are some people experiencing financial hardship because of the current lockdown, we’re not seeing the same demand for help we saw with the first lockdown in March last year.”

NZ Herald - Can you tell me if banks are an essential businesses?

August 27, 2021 - “It’s up to the banks how they use this exemption. They are not required to provide these services and will be taking into consideration the safety of their workers.”

Newsroom - Banks reopen some branches in lockdown amid uncertainty over rules

August 24, 2021 - Bankers’ Association chief executive Roger Beaumont, whose organisation sought the waiver, said banks had to interpret that notice themselves.

Interest.co.nz - The New Zealand Bankers’ Association says there are no plans to resurrect the mortgage deferral scheme, but isn’t ruling out doing so

August 24, 2021 - Roger Beaumont, chief executive of bank lobby group the New Zealand Bankers’ Association, says there’s no move to bring back a loan repayment deferral scheme at this stage However, he says this could change depending on how the current outbreak unfolds.

NZ Herald - Covid 19 coronavirus Delta outbreak: No rent rise freezes, mortgage deferrals ‘at this stage’

August 23, 2021 - “Anyone experiencing financial difficulty because of the current lockdown should contact their bank to discuss how they can help. Banks can offer a range of options for customers facing hardship, depending on their circumstances.”