Thursday, January 29, 2015 - Posted by Philip Harvey
ANZ, after discussions with the Federal Government, have a moratorium of farm repossessions in North-Western New South Wales and Northern and Western Queensland. They are the only big four bank to have this in place.
The moratorium includes:
- A moratorium on new farm repossessions until December 2015;
- A 12 month commitment not to increase interest rates on distressed farms and interest rate relief in cases of extreme distress;
- Financial assistance to support farmers choosing to relocate off the land; and
- Increased funding for rural counselling focused on towns hardest hit by drought.
You can download the press release from ANZ Media here