RESERVE BANK OF NEW ZEALAND

Market Infrastructure

NZ Banking Conduct, Culture Review Finds ‘Significant Weaknesses’

By Manesh Samtani | 05/11/2018

But conduct and culture issues do not appear to be widespread at banks in New Zealand, the FMA and RBNZ said, citing only ‘a small number of issues’ related to poor conduct by bank staff.

Enforcement

New Zealand FMA Work Plan to Focus on Conduct, Culture

By Garima Chitkara | 16/08/2018

New Zealand’s Financial Markets Authority expects firms to put customer interests first; work plan to focus on conduct, culture, governance.

Capital / Liquidity

New Zealand Tightens Rules on Calculating Bank Capital

By Garima Chitkara | 11/07/2018

RNBZ specifies additional restrictions on banks using internal models to calculate risk-weighted assets, as well as requirements to also use standardised models when reporting and for calculating operational risk.

Enforcement

Systemic Enquiry into Financial System Not Required – New Zealand Regulators

By Garima Chitkara | 31/05/2018

RBNZ, FMA say so far no reason to conduct systemic investigation of financial industry’s conduct and culture; banks’ efforts at improving institutional conduct and culture will continue to be monitored.

Capital / Liquidity

BNZ Restates Capital Adequacy Ratios Due to Data Errors

By Garima Chitkara | 28/05/2018

BNZ reported a 34 basis point overstatement of its capital adequacy ratio in its most recent quarterly earnings due to data collection error, marginal overstatement of capital adequacy due to mistakes in collateral value calculation.

Enforcement

New Zealand Regulators Seek Assurances on Conduct, Culture

By Garima Chitkara | 07/05/2018

Banks write to regulators to assure them that issues raised during Australian Royal Commission are not as prevalent in New Zealand; regulators respond requesting more detailed response from individual banks.

Market Infrastructure

RBNZ Focused on Public Disclosure Regime

By Garima Chitkara | 03/03/2018

Reserve Bank of New Zealand is working to improve its disclosure regime to uphold three regulatory pillars: self-discipline, market discipline and regulatory discipline.

Enforcement

New Zealand Raises the Bar for Bank Outsourcing

By Editors | 21/09/2017

Largest banks will be required to have measures in place to survive the failure of a key service provider, according to new outsourcing policy.

Capital / Liquidity

NZ to Embark on Bank Regulation Review Following IMF Assessment

By Garima Chitkara | 10/08/2017

IMF views the central bank less fully compliant with the Basel Core Principles and recommended a more prescriptive rule-making approach to regulation.