1 November 2024
Banks stand ready to support Far West NSW communities hit by recent storms and ongoing power outages.
ABA CEO Anna Bligh acknowledged that many households and businesses in the Far West were still feeling the effect of this severe weather event.
“My message to customers in these communities, is please reach out to your bank if you need financial assistance,” Ms Bligh said.
“Banks have highly experienced hardship teams ready to help customers who have been impacted by natural disasters.
“You don’t need to tough it out on your own. Banks are here to help, and the sooner you get in touch the easier it will be for support options to be put in place.
“In addition to financial assistance provided by the Federal and NSW Governments, banks have a range of very practical measures available to support people.”
Depending on individual circumstances, banks can assist by:
- deferring upcoming loan or credit card payments
- providing emergency credit limit increases
- restructuring existing loans
- offering additional finance to help cover cash flow shortages
For more information, please visit the ABA’s Natural Disaster Assistance webpage.
Latest news
The ABA welcomes APRA’s proposals to make the internal ratings-based (IRB) accreditation process simpler and more transparent, giving mid-sized banks a competitive boost. ABA CEO Simon Birmingham said the changes would support competition and deliver better outcomes for customers. “This is a practical and sensible pro‑competition step from APRA,” Mr Birmingham said. “When fully implemented,… Read more »
E&OEInterview on Sky News with Cheng Lei Cheng Lei: Australian banks closed 155 branches over the last year, but the rate of closures has slowed. For the implications, let’s bring in Australian Banking Association Chief Executive and former Liberal Minister Simon Birmingham. Mr Birmingham, welcome to the show – great to talk to you in… Read more »
Australian banks welcome the Federal Government’s release of an updated Regulatory Initiatives Grid, helping to ensure there is more transparency and coordination when new financial rules are introduced. The ABA particularly welcomes new principles that streamline coordination between regulators, reducing duplication and regulatory burden across the industry. ABA CEO Simon Birmingham said the Grid was… Read more »