Media

Interest.co.nz - HSBC and the Co-operative Bank both cut some advertised fixed-term mortgage rates and some term deposit rates

May 22, 2012 - Bank lobby group, the New Zealand Banker’s Association (NZBA), says cuts in fixed interest rates highlight the level of “intense competition” in the New Zealand banking sector.

Interest.co.nz - RBNZ pushes out timeframes for the introduction of the Basel III capital reforms and its Open Bank Resolution policy

May 10, 2012 - Kirk Hope, CEO of bank lobby group the New Zealand Banker’s Association, said it was positive the timeframe for OBR’s implementation had been pushed back but it was still too tight.

Interest.co.nz - Reserve Bank needs to promote banking competition after big 4 made more profit in 4yrs after crisis than before it, Green Party says

May 10, 2012 - New Zealand Bankers Association CEO Kirk Hope told interest.co.nz that there was a high level of competition between New Zealand banks. Banks in New Zealand also contributed around NZ$6 billion to the economy each year via their own operating expenses – mostly wages to over 25,000 employees – and taxes paid in New Zealand.

Stuff.co.nz - US taxman’s long arm threatens costly Kiwi headaches

May 4, 2012 - New Zealand financial institutions are fighting a United States tax that threatens to saddle them with millions of dollars in regulation costs and could end up costing Kiwi consumers. Outright opposition was not an option because non-compliant institutions would be slapped with hefty withholding penalties. It was “a very likely outcome” that those increased regulatory costs... Read more »

3 News - Anzac Day banking glitch to be investigated

April 25, 2012 - “Banks are certainly standing behind their customers,” says Kirk Hope of the New Zealand Bankers Association. “No customers will be adversely affected as a result of this payments issue.”

Stuff.co.nz - Loan shark regulators must be visible

April 13, 2012 - Loan shark regulators should open shops in at-risk areas to deter dodgy lending and give borrowers easier access to official help, says a banking leader. Bankers’ Association chief executive Kirk Hope said opening a shopfront would help regulators enforce the rules against predatory lenders in areas where they were concentrated.

Interest.co.nz - New CEO of New Zealand Bankers’ Association Kirk Hope says key RBNZ regulatory moves lack policy justification

April 12, 2012 - The new chief executive of the New Zealand Bankers’ Association says banks need more policy detail and more justification from the Reserve Bank on its plans to implement new global capital adequacy requirements for local banks ahead of the timetable set by the international regulatory overseer.