Reserve Bank delays bank disclosure reforms

Thu, 24 Nov 2016

By Fiona Rotherham Nov. 24 (BusinessDesk) - The Reserve Bank of New Zealand has extended for two weeks its deadline for feedback on a proposed new Dashboard approach for banks’ financial disclosure aimed at making it easier for retail investors to compare how sound the lenders are, and will make a final decision on whether to proceed early next year. The proposal for quarterly disclosure arose out of the Reserve Bank’s Regulatory Stocktake last year aimed at improving the efficiency, clarity and consistency of prudential requirements for...

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John Penno quits Synlait board as George Adams elected chair

Synlait Milk co-founder John Penno has quit the company’s board, and George Adams has taken over as chair.The debt-laden milk processor told the New Zealand stock exchange (NZX) on Wednesday that Adams, who joined the board in March as an independent director, would take over fro...

Riley Kennedy 9:15am