RBNZ plans tougher discipline on banks’ regulatory breaches
Proposals would see major breaches linked to disclosure dashboard
The Reserve Bank of New Zealand is considering whether it can impose greater discipline on banks by making major regulatory breaches more obvious on its website.
The central bank has already taken the step of producing a disclosure “dashboard”, which provides interactive comparisons of banks’ regulatory metrics. Officials believe this is starting to improve the quality of reporting and increase discipline.
With that in mind, the RBNZ now plans to link banks’ public disclosures of regulatory
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