Reserve Bank plans sharper focus on material bank rule breaches

Tue, 23 Oct 2018

By Paul McBeth Oct. 23 (BusinessDesk) - The Reserve Bank wants more focus on material regulatory breaches by lenders to sharpen up its light-handed supervision of the sector. The central bank decided to review whether a materiality threshold would be useful after a review of the attestation regime for directors suggested the status quo was diverting directors' time away from more important issues. Under the current rules, a bank that doesn't comply with the conditions of registration has to publish a description of any breach in that...

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