RBNZ relaxes proposed policy changes for banks' outsourcing services

Mon, 23 May 2016

By Paul McBeth May 23 (BusinessDesk) - The Reserve Bank has softened the policies it's looking at imposing for banks that outsource some of their services after lenders warned the cost was too high. The central bank is now seeking more feedback on its new proposals to more tightly define what functions should be covered by the outsourcing policy and when that policy kicks in. The RBNZ said submitters were generally comfortable with the objectives of the proposal, but banks were critical of the low threshold of the policy, the prohibition...

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