Banks eye emergency relief for SME, mortgage borrowers

Mon, 23 Mar 2020

Banks are looking at allowing small to medium-sized businesses and mortgage customers to suspend payments for a period as many firms curtail their activities or lose custom due to the coronavirus crisis.BusinessDesk understands this follows an emergency meeting between the Reserve Bank and trading banks over the weekend.The central bank didn't confirm or deny that there was a meeting but said it is in constant communication with the retail banks and the New Zealand Bankers Association and "we are confident that they are well placed to respond t...

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