RBNZ wants to beef up puny prudential supervisory resources

By Jenny Ruth | Thu, 28 Nov 2019


The Reserve Bank of New Zealand says it will be increasing its scrutiny of financial institutions and raising its current very low prudential supervisory staffing levels, subject to funding constraints.Deputy governor Geoff Bascand, who is also financial stability general manager, says staffing levels on the prudential side of the bank increased by about five recently to 38.After the release of RBNZ's latest financial stability report, governor Adrian Orr told journalists yesterday that the central bank has "more than one" staff member dedicate...