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Farm Repossession moratorium by ANZ

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.

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