‘Step up to the plate’, New Zealand regulators tell banks

Lending money

New Zealand’s council of financial regulators say it is now up to banks to “step up to the plate” and support the economy during the Covid-19 pandemic.

In a joint statement, the regulators detail the measures that have been deployed to help the financial system weather the crisis, many of which rely on the banks to respond to consumer needs.

“This is the time for banks to repay the faith that financial regulators and the government have placed in their hands and step up to the plate,” the

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