RBNZ targeted at select committee for making banking uncompetitive

ASB chair Therese Walsh and CEO Vittoria Short answer media questions after the hearing. (Image: BusinessDesk)

Thu, 14 Nov 2024

The select committee investigating the banking sector heard for the first time yesterday from submitters who argue the Reserve Bank of New Zealand is stifling competition by requiring banks to hold too much capital.However, the only one of the four Australian-owned banks, ASB, was not taking the bait.ASB chair Dame Therese Walsh and chief executive Vittoria Short swatted away questions from members of the finance and expenditure select committee who pursued the argument, which the Commerce Commission made in its report that found the NZ banking...

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