RBNZ demands assurance ANZ New Zealand is operating prudently

Sun, 23 Jun 2019

By Rebecca Howard June 24 (BusinessDesk) - The Reserve Bank is demanding ANZ Bank New Zealand provide assurance it is operating in a prudent manner after it was censured in May and the bank says it will work with the regulator. The central bank is using powers under section 95 of the Reserve Bank of New Zealand Act 1989 to require the local ANZ unit to provide a report by a Reserve Bank-approved, independent person. These reviews can investigate issues such as risk management, corporate or financial matters, and operational systems. T...

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