RBNZ can veto bosses in biggest ever bank merger

The RBNZ cleared New Zealand's biggest ever commercial deal, the takeover of the National Bank by ANZ, but added the condition that it could veto senior appointments of directors or senior management. It is the first time new prudential banking supervision rules - requiring the Reserve Bank to approve changes of bank ownership on a case-by-case basis - have been applied.

Source: The Dominion Post

The ANZ and National banks cannot appoint directors or senior management without Reserve Bank appro

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: