RBNZ to stick with ‘simple-yet-conservative’ regulation, says Spencer
Financial stability head acknowledges there could be risks to deviating too far from global norms
The Reserve Bank of New Zealand (RBNZ) will stay with its “simple-yet-conservative” model for prudential regulation for the time being, though the central bank is looking at ways of upgrading the framework, says head of financial stability Grant Spencer.
New Zealand has a “relatively vanilla” banking system, Spencer says, to which the RBNZ has had to tailor “sometimes complex” international regulations. “In shaping our regulatory approach – with its emphasis on self- and market discipline and
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