NZ banks in 'solid position' to lend through covid-19 crisis

Wed, 27 May 2020

The financial system is in a "solid position" for banks to continue lending through the coronavirus crisis, said Reserve Bank governor Adrian Orr in his latest financial stability report. Banks supporting customers facing short-term income declines will contribute to lenders' long-term profitability by avoiding unnecessary defaults and "disorderly corrections in asset markets," Orr said. However, some non-bank deposit takers and life insurers are operating on low solvency buffers and other insurers have experienced investment losses and/o...

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