New guidance ensures bank staff are held responsible for conduct and statements outside of formal contracts; removes borrower’s liability in the event of lender misconduct.
NAB staff allegedly falsified documents to achieve home loan targets, branch managers colluded with loan introducers to manipulate incentive schemes.
The Committee also published an assessment handbook and self-assessment questionnaire to help member jurisdictions prepare for future RCAP assessments.
Banking association says new regime needs a way to flag special circumstances in credit histories to prevent discrimination against customers.
MoU aimed at promoting market development initiatives in Asia Pacific region, including for derivatives, secondary listings and ETFs.
New measures would require firms to have clearly defined information-security related roles, capabilities and controls to boost their ability to repel cyber criminals and respond to breaches effectively.
The regulator seeks feedback on whether firms need transitional relief from dispute resolution disclosure obligations in the lead up to the new body’s commencement in November.
Removing the 10 percent growth cap would enable banks to increase mortgage lending, ease mortgage rates for investors and boost competition in the sector.
Reserve Bank of New Zealand is working to improve its disclosure regime to uphold three regulatory pillars: self-discipline, market discipline and regulatory discipline.
The code of conduct will cover transparency and disclosure for fintech balance sheet lenders offering unsecured business loans.
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