Banks have agreed with credit reporting agencies that customers who defer mortgage repayments due to Covid-19 will not have their credit ratings downgraded.
April 10, 2020Business loans under a new NZ$6.25bn scheme will be supported by a government guarantee on 80% of the loan amount.
April 2, 2020The facility allows banks to swap corporate paper and other asset-backed securities for cash. Banks are offering six-month deferrals on residential mortgage repayments.
March 31, 2020The RBNZ has inquired into the risk management approaches and preparedness for COVID-19 at banks, and the responses show they are prepared, according to governor Adrian Orr.
March 10, 2020The RBNZ's capital proposals have been under fire since December. The NZBA is the latest to call for a rethink of the capital rules, citing economic costs estimated over NZ$1.8bn a year.
May 22, 2019Fitch Ratings says its assessment of New Zealand's largest banks could change if capital requirements become so onerous as to cause their Australian parents to divest.
April 8, 2019By setting mortgage priority amounts almost three times the home loan principal, banks are preventing borrowers from shopping around for a second mortgage.
January 9, 2019But conduct and culture issues do not appear to be widespread at banks in New Zealand, the FMA and RBNZ said, citing only 'a small number of issues' related to poor conduct by bank staff.
November 5, 2018Banks required to find out whether customers are foreign tax residents and report to Inland Revenue; unresponsive customers are having their accounts put on hold.
July 4, 2018Banks required to report customers' foreign tax status by 30 June; customers that do not respond may have their accounts frozen or closed.
June 7, 2018