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ANZ's chief executive believes New Zealand's banking system is competitive. The Commerce Commission's market study found there's little competition between the big four banks, and they take high profits by international standards. It recommends open banking and giving Kiwibank access to more capital, to better compete and become a disruptor. Antonia Watson told Mike Hosking they don't agree with the ComCom's characterisation of the sector. She says their staff are fighting every day to win and retain customers, so back themselves that it's a competitive industry. LISTEN ABOVE See omnystudio.com/listener for privacy information.
Big report day for big issues. Report Number One: The ComCom and the business of banking. The market doesn't work, more banks would help, how to get more banks? How to get less regulation, how to get better deals for the customer? Firstly, don't hold your breath. The ComCom has looked into power and petrol and banking – not a lot changes. Nicola Willis didn't help yesterday morning when she said in response to a perfectly legitimate question about lending practices, that a bank CEO had said they “weight farms differently from houses in terms of risk”, Willis said well they can tell that to the select committee. Which as far as I could work out means nothing, given I'm sure they will. Then when asked about the banking lobby being powerful, she said “they may be powerful but democracy is more powerful”. Once again, it means nothing. What she was avoiding was the question ‘will you legislate', and she was avoiding that because she is not legislating. The same way the previous government made a lot of noise about supermarkets and petrol but were never going to legislate either. Instead, what we got was a sign on the footpath showing the 98 price and a Grocery Commissioner who so far is limited to press releases. Here is your trouble: we have a lot of banks, we just don't use them. We can switch banks, we chose not to. Yes, the rules the Reserve Bank has in place to make banks hold money could be changed, some of the regulation could be changed, but will it materially fix the market? No. This, as I always say, is not to defend banks. Banks are highly profitable. Their margins are higher here than Australia. But the mistake that is made almost every time, whether its banks, supermarkets, petrol stations, or telcos, is the hype never plays out in reality. The jawboning gets the headlines, the action fades into obscurity. Let's talk in a year, and you can show me how fundamentally different the New Zealand banking scene is. Or not. See omnystudio.com/listener for privacy information.
On the Early Edition with Ryan Bridge Full Show Podcast for Wednesday 21st August 2024. How can Kiwibank become a better competitor for the big Aussie Banks? Banking expert David Tripe takes us through the options. AA has found our learner driver licensing system is much more relaxed than Australia's - what improvements can we make to keep young drivers safer? Road safety campaigner Clive Matthew-Wilson speaks to Ryan. Darleen Tana has formerly said they won't leave their seat in Parliament - what is the next move for the Greens? Political commentator Brigitte Morten joins the show to give her thoughts. Get the Early Edition with Ryan Bridge Full Show Podcast every weekday on iHeartRadio, or wherever you get your podcasts. LISTEN ABOVE See omnystudio.com/listener for privacy information.
There's a belief the Government could make part of Kiwibank public-owned. The Commerce Commission's market study shows there's little competition between the big four banks, and they take high profits by international standards. It recommends giving Kiwibank access to more capital to better compete and become a disruptor. Massey University's banking expert David Tripe told Ryan Bridge that money could come from the New Zealand public. He says it would take some time to absorb a large amount of capital, so it's better done as a relatively slow process. Tripe says trying to grow a bank rapidly is usually a recipe for disaster. LISTEN ABOVE See omnystudio.com/listener for privacy information.
On the Mike Hosking Breakfast Full Show Podcast for Tuesday 20th of August, the Democrats National Convention is getting underway, so will they see the same enthusiastic scenes as the Republicans? The Prime Minister dances his way around questions about what the Government will do with Kiwibank and talks about race relations. Tami Neilson has been recording songs with the great Willie Nelson for her new 'Neilson Sings Nelson' tour, so we had to get her back on the show. Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts. LISTEN ABOVE See omnystudio.com/listener for privacy information.
The Government's wide-reaching banking inquiry has been met with support from Federated Farmers. Banking spokesperson Richard McIntyre has claimed this inquiry will shine a light on the levels of competition, profitability and transparency in rural lending - information farmers have been waiting for. The Country's Jamie Mackay explains further. LISTEN ABOVESee omnystudio.com/listener for privacy information.
The Government announced an inquiry into rural banking, something Federated Farmers has been calling for, and dairy chair Richard McIntyre says the aim now is to make sure terms of reference are set in a way that addresses the issues that really concern them.
FIRST WITH YESTERDAY'S NEWS (highlights from Thursday on Newstalk ZB) And for All Of Us/Where Have Our Tourists Gone?/The Pitfalls of Being a Creep/When Your Phone Is Smarter Than You/Who Doesn't Love Pumpkin Soup?See omnystudio.com/listener for privacy information.
The PM has called for a Banking inquiry particularly in the rural sector as the Government is saying they are getting complaints from farmers as they are borrowing at higher rates than non-rural people and businesses. ==================================== Come support the work we're doing by becoming a Patron of #BHN www.patreon.com/BigHairyNews Merch available at www.BHNShop.nz Like us on Facebook www.facebook.com/BigHairyNews Follow us on Twitter. @patbrittenden @Chewie_NZ
Farming groups are praising the government's move to initiate a banking inquiry focussing specifically on rural services. Rural Women New Zealand chief executive Gabrielle O'Brien spoke to Corin Dann.
The Finance Minister is putting banking competition under the microscope, with a particular focus on rural banking services. Finance Minister Nicola Willis spoke to Corin Dann.
Finance Minister Nicola Willis has asked the Finance and Expenditure and Primary Production Committees to lead a joint inquiry into banking. The investigation will be primarily focused on rural banking, and submissions from banks and chairpersons and chief executives will be expected. ZB senior political correspondent Barry Soper explained what this means for the wider rural sector. LISTEN ABOVESee omnystudio.com/listener for privacy information.
The Working Group Podcast has chats over the budget and cancelled cancer drug policies among other topics. ACT threw Simon Court to the lions...it did not go well. We'll take a look at what being brainwashed looks like, and maybe have a chat about why people become brainwashed in 2024 The PM has called for a Banking inquiry particularly in the rural sector as the Government is saying they are getting complaints from farmers as they are borrowing at higher rates than non-rural people and businesses. ==================================== Come support the work we're doing by becoming a Patron of #BHN www.patreon.com/BigHairyNews Merch available at www.BHNShop.nz Like us on Facebook www.facebook.com/BigHairyNews Follow us on Twitter. @patbrittenden @Chewie_NZ
Federated Farmers dairy chair Richard McIntyre says the emotional toll of increased pressure on farmers from their banks is worrying and he's urging parliamentarians to launch an inquiry into the rural banking sector.
The coalition government's select committee banking inquiry could look at how to encourage banks to lend more to "productive" sectors of the economy rather than having such a big focus on "unproductive" housing lending, Commerce and Consumer Affairs Minister Andrew Bayly says.The National-NZ First coalition agreement says the government will establish a select committee inquiry into banking competition "with broad and deep criteria to focus on competitiveness, customer services, and profitability."Speaking in interest.co.nz's Of Interest podcast, Bayly said the government will wait to see what the Commerce Commission has to say in its market study into personal banking services before launching the select committee probe. The Commission's draft report is due on March 21."Why have we seen outflows from the productive sector like small businesses, farming and property development which is really important if you want to build houses in New Zealand? We've seen funding going out of that sector, going into what I would term the unproductive sector which is the mortgage market. That's interesting because it obviously has a big impact on businesses and the productive sector," said Bayly."Then there are things around margin [and] capital adequacy ratios that the Reserve Bank manages. That will help banks determine where they put their money, and whether they want to invest in more mortgages, or whether they want to invest in supporting businesses.""I'm approaching it with an open mind. I want to see where they [the Commerce Commission] have got to with retail [banking], but I think inevitably there's some other areas we want to cover," said Bayly.Under bank regulatory capital rules overseen by the Reserve Bank, banks are required to hold less capital against housing lending than against other types of lending such as business/corporate and agriculture lending. The major lending exposure of all NZ's major banks is housing. ANZ NZ, the country's biggest bank, has 72% of its total lending in housing.Bayly is also Minister of Statistics, plus Small Business and Manufacturing Minister.On Statistics NZ, Bayly said it will deliver the 7.5% annual spending reduction the government has asked for. Decisions and preparation are ahead for the 2028 census, he said, noting the 2023 census cost $326 million, "a lot of money.""I'm wanting to make sure that what we do drives economic growth for New Zealand, how we can power up those businesses. That's the big strategic intent," he said."Do you run another huge census every five years? That's the first question. And if you read the Stats NZ] briefing [to the incoming minister] there's a proposal that you don't run those big things again. Because governments all around the world are having the same issue where if you front up to someone now and say 'can you fill out this long form' most of them tell you to naf off," Bayly said.The next census could look to make more use of administrative data like home addresses or tax returns, he said, information and data that lies within various government entities."Obviously they've got to do it within privacy settings. But that is certainly the trend overseas and we will have to look at it.. that you may move towards more localised, small surveys, targeted surveys, and look to buttress that information using existing data sources that are potentially untapped at the moment."In the podcast Bayly also talks about Stats NZ reporting Consumers Price Index (CPI) data monthly, funding to update the CPI that's overdue, the Credit Contracts and Consumer Finance Act, the conduct of financial institutions (CoFI) regime, buy now, pay later, anti-money laundering rules, and his plans to rewrite the Companies Act.*You can find all episodes of the Of Interest podcast here.
For the final time in Australia, I caught up with Robbie Barwick from the Citizens Party. We looked at the progress towards the establishment of a Public Bank in the light of recent failures, and the inquiry into Regional Banking. Importantly, there are just two more weeks to get your submission to the Inquiry. Have … Continue reading "Two Weeks To Save The Banking System! [Podcast]"
The National Party wants a banking inquiry...,or do they? Seems that the "party of business" wanting to now reign in business are moving to the left...or are they? Or is it just a popular position that they are giving lip service to an idea that the public want...but they do not. The shit show at Twitter continues as people are fired without notice, then can't find out as is evident with Icelandic employee Haraldur Thorleifsson who had to talk to Musk over Twitter to find out if he was still employed. There are calls for the Australian Project cancelled due to a joke told by comedian Rueben Kaye. We'll look at it tonight and see what all the hub bub is about. Come support the work we're doing by becoming a Patron of #BHN https://www.patreon.com/BigHairyNews Like us on Facebook www.facebook.com/BigHairyNews Follow us on Twitter. @patbrittenden @Chewie_NZ
Sandra Hurley knows what it's all about covering politics in a pandemic. A mathematics whizz kid - her career has taken her from the corporate world of investment banking to the newsroom. You'll likely best know her as the face of RTE's political news coverage bringing us the latest news and developments from Government Buildings. She's reported everywhere from the streets of New York to the Papal conclave in Rome and the London bombings of 2007 and has covered some of the biggest national stories from the Banking Inquiry to the vindication of Garda Whistleblower, Maurice McCabe and the Charleton Tribunal. In this episode we discuss: why she swapped mathematics for the newsroom; how the public perception of politics has changed; and she tells me about the story she covered during her time in New York that would later be recounted on television in the popular legal drama “The Good Wife”. She also offers plenty of advice for young aspiring journalists. I hope you enjoy the episode. For all the latest updates from Your Best Self you can follow us on: *Instagram: @yourbestself_podcast *Facebook: @yourbestselfpodcast *Twitter: @Your_Best_Self_ Or you can follow Faye Rowlands on Twitter at @rowlands_faye
National's calling for an inquiry to make sure that vulnerable people haven't been left behind when it comes to banking.Shadow Treasurer Andrew Bayly says losing cheque facilities, and not to being able to visit branches, is causing distress to many Kiwis.This comes after several mayors signed a letter to the government to intervene on rural bank closures.The loss of bank branches and the phasing out of cheques is causing concern to some sectors of the community.Opotiki is one of a number of towns that are seeing banks shut up shop. Mayor Lyn Riesterer told Kate Hawkesby that only about 50-60 percent of people in Opotiki have internet access."If people in certain rural areas want to do internet banking, that's not going to happen."She says that phone banking is also a problem, particularly for elderly people dealing with that "non-service". LISTEN ABOVE
In this episode of the My Personal Economy Podcast host Will Bell discusses the coming of Open Banking and what it means for the future. Among other things the 57th banking inquiry since the GFC is set to go underway.A new segment, drivers of the next property boom, Will takes on a reason why property will eventually peak again.
Is it the end of days for Tassie Devils? The man who walked to Australia. The Banking Inquiry. Too many students. All the Aussie news with Paul Wallbank.That Saturday Night Thing with Phil Dobbie, LoveSport Radio 558AM and DAB in London, online at lovesportradio.com
Finance Minister Mathias Cormann joins Miranda Devine See acast.com/privacy for privacy and opt-out information.
Emma Alberici speaks to Attorney-General George Brandis about the historic passage of a same-sex marriage bill through the Senate and the latest scandal engulfing Labor Senator Sam Dastyari.
Emma Alberici speaks to Attorney-General George Brandis about the historic passage of a same-sex marriage bill through the Senate and the latest scandal engulfing Labor Senator Sam Dastyari.
1. Banking crisis update: Costello is half right—we don't need an inquiry to break up the banks 2. Stop bankers using workers' savings to cook up privatisation scams Presented by Robert Barwick and Jeremy Beck
1. An effective banking inquiry would lead to one conclusion—Glass-Steagall 2. New US foreign policy taking shape, but Australia stuck in old order Presented by Robert Barwick and Craig Isherwood
1) Retail spending goes up 0.4% in August - The Fools break down the sectors 2) The last Australian-made Ford rolls out of the factory today 3) the Banking Inquiry continues - is it a flawed model? See omnystudio.com/policies/listener for privacy information.
This episode is a discussion of centralisation and decentralisation in Ireland. Over the past 40 years in Ireland, there has been a steady decline in the power and authority given to local authorities and greater emphasis on centralised authority based in the Cabinet. At the same time, the famous decentralisation strategy of the early 2000s was supposed to create more equity between the regions. Ben and Jack discuss this in detail and do a quick overview of the recent report of the Banking Inquiry report and indulge in a little 2016 election results speculation. One thing to note is the audio for this episode requires everyone to turn up the volume, we apologise for any inconvenience caused! We have fixed this issue for future episodes. Corrections: The Irish Financial Regulator during the Celtic Tiger was Patrick Neary not Patrick Nevin as mentioned in the podcast. Apologies to any persons named Patrick Nevin. Show Notes: Colm McCarthy quotes are the article ‘When Irish Eyes are Crying’ by Michael Lewis in Vanity Fair. http://people.ucsc.edu/~hutch/When%20Irish%20Eyes%20Are%20Crying%20_%20Business%20_%20Vanity%20Fair.pdf Banking Inquiry Report link https://inquiries.oireachtas.ie/banking/Contact us on Twitter @spoilyourreign or by email spoilyourreign@gmail.com
Today the team are looking at the Michael Lowry controversy that has dominated the front pages for the past week. It's been both a good and a bad week for the Tipperary TD depending on whether you have a national or local viewpoint, leaving plenty for INM's political correspondents Niall O'Connor and Philip Ryan to muse over. With the Banking Inquiry finally producing its report this week, the Irish Independent's Public Affairs Editor Shane Phelan joins the panel to ask was it really worth €6.5m – and why is the French banker Jean-Claude Trichet the scapegoat. Jason Kennedy from independent.ie tells us what's making a splash on social media. And it's a big weekend for the Labour Party with their pre-election conference taking place in Mullingar.
Banking Inquiry committee members Joe Higgins and Eoghan Murphy are in studio to discuss the committee's findings, along with host Ciaran Hancock and political reporter Sarah Bardon. Hosted on Acast. See acast.com/privacy for more information.
Banking Inquiry committee members Joe Higgins and Eoghan Murphy are in studio to discuss the committee's findings, along with host Ciaran Hancock and political reporter Sarah Bardon.
In this edition of Inside Politics Hugh Linehan discusses the concluding controversies surrounding the Banking Inquiry. He is joined by Sarah Bardon, Ciaran Hancock and Pearse Doherty the Sinn Fein spokesperson for finance who is a committee member of the Banking Inquiry. The team analyses the strengths and weaknesses of this heavily critiqued process and anticipate what is left to do. Inside Politics is a weekly politics podcast. It is produced by Sinead O'Shea and presented by Hugh Linehan.
This week Arthur Beesley discusses the latest allegations made by Deputy Mick Wallace about NAMA and the current status of the Oireachtas banking inquiry. He is joined by Mark Paul and Ciaran Hancock. Inside Business is a weekly business podcast. It is researched by Declan Conlon and produced by Sinead O'Shea.
This week Arthur Beesley discusses the latest allegations made by Deputy Mick Wallace about NAMA and the current status of the Oireachtas banking inquiry. He is joined by Mark Paul and Ciaran Hancock.Inside Business is a weekly business podcast. It is researched by Declan Conlon and produced by Sinead O'Shea. Hosted on Acast. See acast.com/privacy for more information.
This week Arthur Beesley is joined by The Irish Times' finance correspondent Ciaran Hancock and economist Jim Power to discuss what is really going on in the banking inquiry, and whether it is likely to shed much light on the fateful events of September 2008. Plus, with a UK referendum on EU membership now all but certain, how likely are our nearest neighbours to take their ball and go home, and what might that mean for the Irish economy? Inside Business is sponsored by Irish Life. The podcast is produced by Sinead O’Shea and researched by Declan Conlon. You can subscribe to the show or download individual episodes via Soundcloud, iTunes and Stitcher.
This week Arthur Beesley is joined by The Irish Times' finance correspondent Ciaran Hancock and economist Jim Power to discuss what is really going on in the banking inquiry, and whether it is likely to shed much light on the fateful events of September 2008. Plus, with a UK referendum on EU membership now all but certain, how likely are our nearest neighbours to take their ball and go home, and what might that mean for the Irish economy?Inside Business is sponsored by Irish Life. The podcast is produced by Sinead O'Shea and researched by Declan Conlon.You can subscribe to the show or download individual episodes via Soundcloud, iTunes and Stitcher. Hosted on Acast. See acast.com/privacy for more information.
Harry Browne, lecturer in journalism at the school of media in the Dublin Institute of Technology joins us alongside Richard Curran, presenter of The Business on RTE Radio 1, and previously editor of the Irish Independent's business section and deputy editor at the Sunday Business Post to discuss.
Cutting Through the Matrix with Alan Watt Podcast (.xml Format)
--{ Bankers' Logo -- Where'd Money Go? -- Why, We Don't Know: "We Wade Through the News, Mainly Pablum Variety, Trying to Make Sense of this Directed Society, Following Farces of Inquiries into Each Major Event, Followed by Inquiries as to Where Evidence Went, Don't Wait Expectantly for Truth, Before You Retire, You See the Only Right We Have, Is the Right to Inquire, Those Under the Microscope, with Arrogant Confidence, Give Short, Straight-Faced Replies 'It's All Down to Providence,' Look at the Banking Inquiry, The Experts in Loan, Confident in Mammon, Who Takes Care of His Own" © Alan Watt }-- Searching for Reality - Education to Standardize, Social Engineering by Teachers - Given a Carrot to Chase After, Rags-to-Riches Stories - Looking Back for a More Free Time - Canada, Post-WWII Industrial (Former) Countries - Tool of Money for Controlling Nations, God of Mammon - Training to Accept Guidance of "Experts" and Shepherds. Parties Seeking to Replace Present System with their Own, Marxism - Blend of Capitalist and Communist for Socialist Society - Totalitarian "Philosophers" and Academics - Leo Strauss - Perpetual War - The "Noble Lie". Banking Cabal, Decisions Made in Secret - Rothschild Dynasty - Private Federal Reserve, AIG, Lehman Bros. - Bernanke, Paulson, Geithner, Denials of Involvement in Bailouts and Bank Dealings. Years-Long Taxpayer-Funded Inquiries that Go Nowhere - Murder of David Kelly, Findings Classified 70 Years - Tony Blair, Iraq War Inquiry, Evidence Refused. Britain and its Colonies - On-the-Spot Fines (Extortion) for Ludicrous "Crimes" - Replacing so-called "Policemen". Special Forces, Battlefield "Medical" Exercises on Gunned-down Sheep - Pigs Exploded in "Terrorism" Experiments (to "Save Lives"). Increased Years in School, Payment to Attend - Fluoridation Farce. (See http://www.cuttingthroughthematrix.com for article links.) *Title/Poem and Dialogue Copyrighted Alan Watt - Jan. 29, 2010 (Exempting Music, Literary Quotes, and Callers' Comments)