Regulation of financial institutions doesn't absolve them from managing risk, RBNZ says

Thu, 01 Sep 2016

By Jonathan Underhill Sept. 1 (BusinessDesk) - The Reserve Bank's regulation and supervision of financial institutions doesn't absolve their boards and managers from their responsibility to manage risks, the bank's head of prudential supervision Toby Fiennes has argued in a speech to the NZ Bankers Association in Auckland. Regulation didn't mean companies could ignore their responsibilities and no institution should think there is a government guarantee they can fall back on, he said. "While the New Zealand financial system is sound,...

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