Big banks' deep pockets allow them to tilt the playing field with mortgage broker incentives and home loan cashbacks, says Heartland chief executive. Jonathan Milne reports.
She says the smaller banks often can’t access Reserve Bank funding, so have to rely on credit lines from the big banks – and though it happens only occasionally, these can be cut off at will.
This is news to me. What’s the criteria for when a bank is allowed to access RBNZ funds? I presume we are talking about some sort of credit limit that stops them borrowing too much, since they didn’t say they can’t access it at all.
This is news to me. What’s the criteria for when a bank is allowed to access RBNZ funds? I presume we are talking about some sort of credit limit that stops them borrowing too much, since they didn’t say they can’t access it at all.