The government has approved a three-fold increase in the FMA’s litigation fund to NZ$6mn for the 2019/2020 year, a day before the annual report was released.
November 4, 2019APRA proposes to increase the amount of capital banks need to hold to support investments in large subsidiaries, such as their New Zealand units.
October 18, 2019In a new consultation paper, the RBNZ proposes legislative changes that would allow it to take on a more active monitoring and coordination role in the cash system.
October 4, 2019RBNZ deputy governor Geoff Bascand says the central bank will review the amount of capital, what form it takes, and the allowed transition period before final decisions are made.
October 4, 2019New legislation to implement the regime is expected by year-end, empowering the FMA with stronger enforcement tools and the ability to impose higher penalties for conduct breaches.
September 27, 2019The RBNZ will start publishing banks' regulatory breaches on its website next year in a bid to improve transparency and market discipline.
September 26, 2019RBNZ governor Adrian Orr says the sector has failed to demonstrate the necessary urgency and prioritisation to provide effective governance and monitoring of conduct risk.
September 18, 2019Citi banking analyst Brendan Sproules says APRA and the RBNZ "are pursuing radically contrasting approaches to bank sector capital adequacy".
September 10, 2019The FMA has determined that ANZ should have disclosed the sale of a luxury property to its ex-CEO’s wife at below-market prices as a related party transaction.
August 23, 2019The RBNZ says submissions to its November consultation were broadly supportive of the proposed new standard for mortgage bonds – the RMO framework.
August 16, 2019