- “Banks are particularly interested in the borrower’s ability to repay the loan, and the security provided for the loan. People seeking home loans need to be up front with the bank about their personal circumstances, such as existing financial obligations and outgoings.”
- “We’re particularly pleased that the FMA has confirmed there are no systemic conduct issues around the use of the benchmark. That provides an assurance that banks can use the rate with confidence,” Scott-Howman says.
- NZBA has come out against the Reserve Bank adding a debt-to-income ratio tool to its macro-prudential toolkit. But the bank lobby group has suggested a serviceability interest rate, or SIR, as a potential alternative.
- The New Zealand Bankers’ Association has repeatedly denied claims its members apply “blanket de-risking” policies. Rather it says banks consider prospective clients’ risks on a case-by-case basis.
- “They only provide information to the Police when they receive a production order that legally requires them to provide information or when the request complies with the Privacy Act.”
- August 12, 2017 – Climate change is recognised as a potential financial risk by New Zealand banks and the NZBA is working with groups such as Deep South Challenge to get a greater understanding of the risks from climate change on investments, said chief executive Karen Scott-Howman.
- Customer trust and confidence in banks are essential to the industry’s ongoing success. For the last 25 years the Code of Banking Practice and the Banking Ombudsman have played a crucial role in improving customer outcomes by setting minimum industry standards and resolving customer issues. They have both helped build trust and confidence. Here’s to... Read more »
- The New Zealand Bankers’ Association has struck a surprisingly aggressive tone in its initial submission on the Reserve Bank’s review of banks’ capital adequacy requirements.
