Regulatory Alerts2022-02-27
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Development of a framework for closer integration of trans-Tasman banking regulation
The Trans-Tasman Council on Banking Supervision, comprising officials from the Australian and New Zealand treasuries and financial regulators, issued a joint report in July 2004 proposing frameworks for closer integration of prudential regulation. The document evaluates two primary models: an enhanced home-host approach emphasizing harmonization and coordination while retaining separate regulatory frameworks, and a deeper integration model where the Australian Prudential Regulation Authority supervises Australian-owned banks in New Zealand. The report assesses the stability, efficiency, and fiscal implications of these options against the backdrop of high market integration and international regulatory developments.
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