Banks and insurers rate highly
The latest Relationship Charter Survey showed that 92% of banks, 81% of insurers, and 94% of non-bank deposit takers (NBDTs) rated their relationship with the Reserve Bank as “good” or “very good.”
"Strong, constructive relationships with firms result in good regulatory outcomes,” said Scott McKinnon (pictured above), director of prudential supervision.
Focus on insurance sector engagement
While the survey revealed high satisfaction levels across sectors, the Reserve Bank acknowledged that satisfaction within the insurance sector had slightly decreased.
“We will be focusing on the way we engage with the insurance sector on policy development matters over the next 12 months,” McKinnon said.
See LinkedIn post here.
Reserve Bank’s commitment to regulatory excellence
The Reserve Bank’s Relationship Charter, launched in 2018, underpins its regulatory approach, fostering a mutual understanding of conduct and culture.
This year’s survey marks the fifth time key stakeholders from the financial sector evaluated the Reserve Bank’s performance.
“The Relationship Charter remains at the core of our approach to supervision,” McKinnon said, reflecting on the importance of strong partnerships with regulated firms.
Read the RBNZ report in full here.
Get the hottest and freshest mortgage news delivered right into your inbox. Subscribe now to our FREE daily newsletter.
