Regulation of banking necessary - ANZ boss
The chief executive of the country's largest bank, ANZ, thinks regulation overseeing banks' behaviour is needed. A Reserve Bank and Financial Markets Authority review of the country's 11 largest lenders has found there were a small number of poor conduct problems, but it was not widespread. It also says the law does not provide sufficient scope for the Reserve Bank or the FMA to hold banks to account for their behaviour, and this needs to change. ANZ's David Hisco spoke to RNZ reporter Kate Gudsell.