RBNZ says it can't promise there won't be a repeat of the CBL fiasco

Mon, 02 Sep 2019

By Jenny Ruth Sept. 2 (BusinessDesk) - The Reserve Bank can’t promise there won’t be a repeat of the CBL fiasco in which an NZX-listed company was ordered to keep secret for months the fact that its regulator believed it was insolvent. RBNZ deputy governor Geoff Bascand told the New Zealand Shareholders’ Association annual conference in Christchurch at the weekend that the insurance company regulator remains a strong supporter of transparency but that transparency has its limits. RBNZ learnt a number of lessons from the independent rev...

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