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Australia’s banks have bolstered their efforts to help businesses to bridge the gap until the first Jobkeeper payments in May.
Australian Banking Association CEO Anna Bligh said the Code would give important guidance for all parties on managing a difficult issue for retail landlords, tenants and banks throughout the COVID-19 pandemic.
If a customer is granted a deferral on their mortgage and other credit products because of COVID-19, banks will report customers as not having missed a repayment.
Businesses may be able to use their upcoming JobKeeper payment to seek credit so they can pay employees until the scheme is up and running.
Commercial landlords can get debt relief from their bank, if they don’t terminate leases or evict current tenants for rent arrears due to COVID19.
Australian banks will defer loan repayments for small businesses affected by COVID-19 for six months.
Bank response to coronavirus stimulus package: “Australia’s banks are strong, stable and open for business, including for any company wanting to take advantage of initiatives in the Government’s stimulus package.”
Any business financially impacted by the effects of COVID-19 should contact their bank
Help on offer for small businesses financially affected by coronavirus Australian small businesses financially impacted by the spread of the coronavirus are being urged to contact their bank to access assistance on offer which can include deferred loan payments, waiving fees and restructuring loans. Australian Banking Association CEO Anna Bligh said any small business should not tough it out on their own… Read more »
Australians affected by the catastrophic bushfires across parts of Australia are encouraged to contact their bank to access a wide range of assistance available.
Senior bank representatives have today heard firsthand of worsening drought conditions from farmers affected at a roundtable convened by AgForce Queensland. The roundtable, held at the request of AgForce just outside Toowoomba in Nobby, brought together senior banking representatives responsible for agricultural lending as well as local farmers and community groups. CEO of the Australian… Read more »
Australians facing financial difficulties as a result of fires raging across New South Wales and Queensland are being encouraged to contact their bank for assistance when they are able to do so. CEO of the Australian Banking Association Anna Bligh said that banks have hardship teams ready to assist customers affected by the fires. … Read more »
Australians affected by the bushfires in NSW and QLD are encouraged to contact their bank to access a wide range of assistance available. CEO of the Australian Banking Association (ABA) Anna Bligh said that banks stand ready to assist customers affected by bushfires, offering a range of services including deferred loan repayments, waiving fees and… Read more »
Farmers, small business owners, customers living in remote areas or with limited English and Australians with basic bank accounts will receive new protections under a revamped Banking Code of Practice in response to the Final Report of the Royal Commission.
Queensland cattle farmers affected by flooding are being urged to contact their banks, who have special teams ready to help and provide a wide range of assistance.
Customers affected by the recent floods in Queensland or bushfires in Tasmania are able to access assistance from their bank, which can include deferred loans payments, waiving fees and charges and assisting with debt consolidation.
Today’s announcement of the new Drought Finance Taskforce, bringing together banks, government departments, elected representatives and peak bodies is an important vehicle to share information and identify ways banks can better assist Australia’s farmers and their local communities doing it tough.
Australia’s fresh fruit farmers, including strawberry farmers, affected by the ‘fruit sabotage’ issue are being urged to contact their bank to access the assistance on offer which can include deferred loan payments, waiving fees and restructuring loans.