RBNZ censures ANZ, prescribes risk capital calculation

Fri, 17 May 2019

By Rebecca Howard May 17 (BusinessDesk) - The Reserve Bank of New Zealand has revoked ANZ Bank New Zealand's accreditation to model its own operational risk capital requirement due to a "persistent failure" in its controls and attestation process. ANZ is one of four big banks in New Zealand that are accredited by the Reserve Bank to use their own risk models – the internal models approach - in calculating their regulatory capital requirements. “Accreditation is earned through maintaining high risk-management standards, and comes with s...

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