Finance
Explore the latest finance news by BusinessDesk's team of reporters around New Zealand.
Policy
Deposit protection reduces case for RBNZ's bank capital increases, Robertson hints
By Pattrick Smellie June 24 (BusinessDesk) - A bank deposit protection scheme may help defuse the battle between the Reserve Bank and the country's biggest trading banks over how much extra capital they should have to hold on their balance sheets, Finance Minister Grant Robert...
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Policy
Govt to introduce deposit insurance; RBNZ keeps prudential supervision
By Paul McBeth June 24 (BusinessDesk) - Finance Minister Grant Robertson wants to keep prudential supervision under the Reserve Bank's purview and plans to introduce deposit protection to bring New Zealand into line with other developed nations. Cabinet today signed off on...
Law & Regulation
Bank executive incentives a key focus for regulators
By Paul McBeth June 24 (BusinessDesk) - The Financial Markets Authority and Reserve Bank want a better grasp of how bank executive incentives have evolved and what controls are in place to avoid conflicts with sales practices. The regulators today said all banks have outli...
Law & Regulation
Appeal Court puts ANZ back in the gun over interest rate swaps
By Paul McBeth June 24 (BusinessDesk) - The Court of Appeal has overturned a ruling that ANZ Bank New Zealand doesn't have to compensate a Taranaki farming family for the way it had represented the risk attached to interest rate swaps. The High Court turned down a bid by S...
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