RBNZ looks into promoting competition among banks
Central bank mulls greater access to its interbank payments system and changes to capital rules
The Reserve Bank of New Zealand (RBNZ) said on September 26 that it was considering how it could advance recommendations from a watchdog to promote competition in the banking sector.
In its final report on personal banking services, published on August 20, the Commerce Commission had said that capital rules still gave major banks a competitive advantage over smaller ones. This was in spite of changes brought in by the RBNZ in 2019.
The commission also urged the central bank to take further steps
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