• Jenee Tibshraeny: NZ Herald Wellington business editor on the latest feud between the Reserve Bank and the banks

  • Nov 20 2024
  • Length: 5 mins
  • Podcast

Jenee Tibshraeny: NZ Herald Wellington business editor on the latest feud between the Reserve Bank and the banks

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  • Summary

  • A senior Reserve Bank official has taken aim at the big banks and accused them of stifling innovation and competition by underinvesting in technology.

    Addressing delegates at a Payments NZ conference on Tuesday, the banking regulator’s director of money and cash, Ian Woolford, claimed there was a role for better regulation to push banks to keep up with their peers overseas.

    But the banks have pushed back - with Westpac head Catherine McGrath saying regulations were holding the banks back.

    NZ Herald Wellington business editor Jenee Tibshraeny unpacks the regulations impacting the banks.

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