NZBA finds a $1b mistake in lending data

Wed, 29 Apr 2020

The New Zealand Bankers’ Association said it has discovered that banks have lent $1 billion less than it had previously reported to businesses since the nation's lockdown to combat the spread of the coronavirus.NZBA began publishing data on bank lending on its website, updated daily, earlier this month to demonstrate that its members were playing their part in aiding the government's efforts to cushion the economic impact.Rather than having lent $6.9 billion in new loans to businesses since the lockdown began on March 26, the bank...

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