BRIEF-RBNZ Is Inviting Feedback On Final Consultation On Policy Review For Branches Of Overseas Banks

Reserve Bank of New Zealand: * IS INVITING FEEDBACK ON SECOND AND FINAL CONSULTATION ON REVIEW OF ITS POLICY FOR BRANCHES OF OVERSEAS BANKS

* UNDER FEEDBACK, IT PROPOSES ALL BRANCHES IN NEW ZEALAND BE RESTRICTED TO ENGAGING IN WHOLESALE BUSINESS * ANTICIPATE FINAL DECISIONS ON REVIEW TO BE TAKEN IN EARLY 2023

* UNDER FEEDBACK, PROPOSES TO LIMIT MAXIMUM SIZE OF A BRANCH TO NZ$15 BILLION IN TOTAL ASSETS * PROPOSING A THREE-YEAR TRANSITION PERIOD FOR FULL IMPLEMENTATION Further company coverage: