News Bites

RBNZ ditches bank disclosure statements

The Reserve Bank has ditched its requirement for banks to make quarterly disclosures, and replaced them with its "dashboard approach".

The basic approach of the Dashboard is to provide investors, depositors and other interested parties with an electronic form of reporting that provides a timely side-by-side
comparison of banks based on key metrics. This reporting will be done on a quarterly basis and hosted on the Reserve Bank’s website.

"The Dashboard aims to improve the timeliness, accessibility and comparability of information that banks are required to disclose to the public on their financial and prudential condition. Enhancing these disclosures is expected to improve market discipline and self-discipline," the central bank says.

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