"Competition, oddities and RBNZ's conspicuous no-show"
"Jenny Ruth's Just the Business"

https://substack.com/@justthebusines...m_medium=email


"The Reserve Bank was conspicuous by its absence at the first day of the Commerce Commission's conference on competition in personal banking services.

That's even though the subjects for discussion included the impact of RBNZ's prudential regulation on competition and concerns about the impact of the deposit insurance scheme once it comes into effect.

The importance the major banks place on the commission's study of banking competition was highlighted by the fact that all four chief executives of the four major banks were present at the conference.

That made RBNZ's absence all the more conspicuous.

Of course, RBNZ had already published its reaction to ComCom's draft report, basically rejecting everything ComCom had to say about the regulatory barriers to competition.

That could be, and has been, characterised as RBNZ's contempt for the commission's inquiry..."