The RBNZ's trading room did well last year, but the government won't reap the reward it usually does.
MBIE wants to see lower fees and better engagement with members.
The end of the government's covid blanket is going to see a raft of refinancing as banks look to shore up their loan books.
The Reserve Bank held its quantitative easing programme and kept the OCR at 0.25 percent, while signalling direct bank funding could start before the end of the year.