NZ arrears standardised
Banks in New Zealand will provide better insight into their home loan arrears in their quarterly disclosure documents, with the Reserve Bank of New Zealand seeking to standardise these disclosures.Banks will have to show arrears in buckets of more than 30 days, more than 60 days and more than 90 days.They will also have to distinguish between owner-occupied loans and residential loans, and loans that are for business purposes but secured over residential property.