RBNZ launches bank disclosure register

The new register collates material breaches from all the banks in one place. (Image: file)

Thu, 24 Mar 2022

The Reserve Bank says it has launched a public material breach register to make banks' compliance with key prudential requirements more transparent.Banks have to comply with a number of rules including minimum capital levels, liquidity management and corporate governance.They are required to formally report any breaches to the Reserve Bank.There are three breaches by three different banks listed on the register.Southland Building Society (SBS Bank) was in breach of liquidity requirements between January 2021 and August 2021 and became aware...

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