Letter to RBNZ: Issues in the NZ non-bank sector due to COVID-19

Letter to RBNZ: Issues in the NZ non-bank sector due to COVID-19

Letter to RBNZ: Issues in the NZ non-bank sector due to COVID-19

Apr 01 2020
The New Zealand market subcommittee of the ASF has written to the RBNZ to highlight the some of the issues the New Zealand non-bank sector is facing as a direct result of COVID-19 and the resultant mandatory lockdown. 

In particular the need to offer support to those customers who will suffer a reduction in income and will therefore face possible financial hardship through no fault of their own.
 
There are very real differences between the way in which the non-bank sector is funded compared with banks and while securitisation offers a sound platform for funding these organisations, it does not contemplate a global pandemic and the resultant ramifications.

Read the letter >