- Reading between the lines of what the Reserve Bank has said about the macroprudential tools it is working on, regulating loan-to-value ratios would not be its favoured option, believes the Bankers’ Association.
- Is there a need for the Reserve Bank to even have the so-called macro-prudential tools it’s now publicly consulting on? This, says Kirk Hope, CEO of bank lobby group the New Zealand Bankers’ Association, is a good question.
- In response to the report, New Zealand Bankers’ Association chief executive Kirk Hope said that local banks are “among the best funded and regulated in the world, and fiercely competitive. That’s good for New Zealanders and our economy,” said Hope.
- You’d expect the banks to be worried at the prospect of having their business impinged on in such dramatic fashion. But Kirk Hope, chief executive of industry lobby group the New Zealand Bankers Association, is remarkably calm.
- New Zealand’s long awaited anti-money laundering laws are now in place, almost four years after Parliament passed the Anti-Money Laundering and Countering Financing of Terrorism Act.
- Kirk Hope says there are a range of questions that need to be addressed in considering tools that restrict amounts that can be borrowed to buy houses.
- “The Christmas period’s a special period for families, so the banking industry wanted to help people who hadn’t been paid and take out some of the stress from this period for them,” said Kirk Hope of the New Zealand Bankers’ Association.
