The Australian Banking Association said that banks are prepared to provide support to customers impacted by the current severe weather and flooding in New South Wales, according to a Thursday release.

The lenders have financial relief measures to help impacted customers, from repayment deferrals and waiving of fees and charges through to loan restructuring.

The association's Chief Executive, Anna Bligh, urged customers facing financial stress as a result of the extreme weather event to reach out to their bank and discuss support options.