Regulatory Alerts2022-02-27
Proposals for closer integration of trans-Tasman banking regulation and supervision
The New Zealand Minister of Finance proposes implementing an enhanced home-host supervision model to strengthen information sharing and crisis coordination between the Reserve Bank of New Zealand and Australian regulators. This approach is preferred over a sole-regulator model to preserve New Zealand's decision-making authority and accountability regarding its systemically important, predominantly Australian-owned banking sector. The Minister also directs the Treasury to form a working group to review banking and insurance regulation to determine if further mutual integration benefits New Zealand's financial stability and economic growth.
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