Banking report: time for RBNZ to look in the mirror

Banking report: time for RBNZ to look in the mirror
(Image: Getty)
Andrew Body
Simon Jensen
The Commerce Commission’s draft report on personal banking services creates a meaningful opportunity to catalyse more effective competition and greater innovation in New Zealand’s financial services and credit markets.  Reducing unnecessary regulatory burdens is vital for competition. Competition in these markets is, in turn, important for reducing NZ’s cost of capital and providing a quick win for our productivity.The report presents a lot of evidence clearly and concisely and draws sound conclusions.  It also provi...

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