Media Releases

Media Releases

Coronavirus affected customers urged to talk to their bank

- The New Zealand Bankers’ Association is encouraging businesses and individuals financially affected by coronavirus (Covid-19) to talk to their bank. “We’re aware that some businesses, particularly small to medium sized ones, are being financially impacted by this unfolding global issue. The same may apply to individual customers working in sectors directly affected. Banks can offer... Read more »
Media Releases

New fund to get advice for struggling farmers is now open

- A new initiative funded by banks and the government offering support for farmers struggling with farm debt is now up and running.  The government has allocated $200,000 for the Farm Business Advice Support Fund, to be managed by Rural Support Trusts. For a qualifying farmer the fund will provide up to $6,000 to pay for... Read more »
Media Releases

Banking industry welcomes conclusion to RBNZ capital review process

- The New Zealand Bankers’ Association today welcomed the conclusion of the Reserve Bank’s review of how much capital New Zealand’s banks should hold. “Today’s announcement provides our banks with certainty on the amount and type of capital they will need to hold in future, and brings an end to a robust consultation,” says New Zealand Bankers’... Read more »
Media Releases

Banking Hub trial a new approach to regional banking

- A unique partnership of six New Zealand banks will trial a new approach to providing banking services in small regional communities. Banking Hubs will be trialled in four small towns for 12 months, with the first starting by early 2020. The hubs will feature a Smart ATM, support staff and online and technology support. During... Read more »
Media Releases

Banks welcome new financial conduct regime

- The New Zealand Bankers’ Association today welcomed the government’s announcement to introduce a new regime for financial service providers to ensure fairer treatment for customers.   “Banks want to treat their customers fairly. It’s good for customers and good for business. We welcome further steps to help ensure we’re doing that. We will work closely... Read more »
Media Releases

Bank staff to help teach School Leavers’ Toolkit

- The banking industry will provide hands-on skills to support the School Leavers’ Toolkit by making staff available to teach the financial literacy component, as required. The New Zealand Bankers’ Association has been involved in the development of the toolkit since it began, providing ideas, specialist expertise and content approval for the financial literacy component. Banks... Read more »
Media Releases

NZBA welcomes farm debt mediation announcement

- The New Zealand Bankers’ Association today welcomed the government’s announcement that it will introduce a bill to set up a farm debt mediation scheme. “Banks are responsible lenders that take a long-term view to the rural sector. They know the vital role farmers play in the economy and that it’s important they succeed,” says New... Read more »
Media Releases

Reserve Bank should rethink capital proposals

- The New Zealand Bankers’ Association has called on the Reserve Bank to reconsider its proposals to almost double capital requirements for New Zealand’s banks, and take into account an independent review by former Treasury Secretary Dr Graham Scott. “Independent analysis by former Treasury Secretary Dr Graham Scott shows the Reserve Bank should rethink its proposals to avoid putting a handbrake on our economy,” says New Zealand Bankers’ Association... Read more »
Media Releases

Banks respond to Conduct and Culture Report

- All 11 banks involved in the Bank Conduct and Culture review by the Financial Markets Authority and the Reserve Bank have responded with individual work plans. “While I cannot disclose the information in each work plan, I can confirm that all banks with sales incentives have committed to remove or address them for frontline salespeople... Read more »