The thematic review of Bank Conduct and Culture will be available from Monday 5 November 2018. The report will outline the findings from a joint FMA and RBNZ review of the conduct and culture in retail banks operating in New Zealand.
Open Bank Resolution (OBR) is a long-standing Reserve Bank policy aimed at allowing a distressed bank to be kept open for business, while placing the cost of a bank failure primarily on the bank’s shareholders and creditors, rather than the taxpayer.
The Reserve Bank of New Zealand has eased the dividend restrictions placed on retail banks at the height of the COVID-19 pandemic. The changes will allow banks to pay up to a maximum of 50% of their earnings as dividends to their shareholders.