The financial system is robust to weather the pandemic impact

  • May 27, 2020 NZST
  • Team Kalkine
The financial system is robust to weather the pandemic impact

In May Financial Stability Report, Reserve Bank Governor, Adrian Orr has said that the financial system is in a stable position to aid in the economic recovery process.

Some of the initiatives to support kiwis are:

  • Loan Deferral Scheme: A deferral of loan payments for up to six months for household and small business customers.
  • Business Financing Guarantee Scheme: Partially government-guaranteed loans for SMEs.
  • Bank liquidity and funding support: The Reserve Bank has introduced concessional term funding facilities for banks.

 


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