Brad Olsen: Infometrics Principal Economist on banks needing to repay $9.2 billion in Covid-era loans to the Reserve Bank
New Zealand banks are being asked to pay up in the next few months.
Kiwibank, BNZ, Westpac, ANZ and ASB will need to repay around $9.2 billion in cheap Covid-era loans to the Reserve Bank.
Infometrics Principal Economist Brad Olsen told Mike Hosking that they have variety of options they can use to repay the money.
He says the banks knew when taking out these loans they’d have to pay them back eventually.
Olsen told Hosking that if they’re not ready to pay them back, they probably don’t qualify to be called bankers at this point.
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