RBNZ pushes back on banking competition critique

Is banking competition the fault of the commercial banks, or their regulator? (Image: NZME)

Tue, 01 Oct 2024

Ensuring a competitive banking sector comes second to ensuring the banking system is sound, the Reserve Bank of New Zealand says in its submission to the upcoming inquiry into banking competition.The country’s banking regulator indicates it will continue to reject Commerce Commission findings that its prudential capital rules are responsible for stifling more competitive banking when it appears before the select committee in public hearings, which are due to start later in October.In one of only two submissions to the finance and expendit...

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