- New Zealand banks are moving to implement their obligations under the United States Foreign Account Tax Compliance Act (FATCA). The US law aims to reduce tax evasion by US persons using financial accounts outside the United States of America. It does so by requiring participating financial institutions around the world, including New Zealand banks, to... Read more »
- The government’s sound economic management has begun to pay dividends said the New Zealand Bankers’ Association today in response to Budget 2014. “The Budget shows that the New Zealand economy is on the right track with a return to a small surplus in 2014/15 and then with surpluses forecast to increase moderately in future years,”... Read more »
- The Reserve Bank of New Zealand’s Financial Stability Report released today has found that the financial system remains sound and is well placed to support economic expansion. “The New Zealand banking industry is in good shape, remains strong, and is well capitalised and regulated,” said New Zealand Bankers’ Association chief executive Kirk Hope. “Recently reported... Read more »
- KPMG’s Financial Institutions Performance Survey analysis for the quarter to December 2013 released today has found that New Zealand’s economic development and the banking industry’s strength go hand-in-hand. “Our strong and stable banking system provides a great platform for economic growth. That growth is possible because banks are providing funding to businesses across a range... Read more »
- The Bankers’ Association chief executive Kirk Hope said New Zealand banks have no choice but to comply with the US law, but take confidentiality of client’s information very seriously.
- New Zealand Bankers’ Association chief executive Kirk Hope said it was impossible for New Zealand companies to comply with Fatca without the agreement, because under current law they aren’t allowed to provide information to overseas tax departments.
- ASB Bank chief executive Barbara Chapman has been elected chair of the New Zealand Bankers’ Association for 2014/15 and takes on the role today. BNZ chief executive Andrew Thorburn was elected deputy chair. “The association plays an important role representing the banking industry on a range of issues with a range of stakeholders,” said Barbara... Read more »
- The banks argue that they are already responsible lenders and that the law changes should be targeted at loan sharks and lower tier lenders rather than them.
- Drought-affected farmers should talk to their banks said the New Zealand Bankers’ Association in response to increasingly dry conditions in parts of Northland and Waikato. “We encourage any farmers facing hardship as a result of the lack of rain to contact their bank to discuss options for assistance and how they can work through these... Read more »
