5 Feb 2019

Banks will lend more in NZ after AUS report - Stubbs

From Morning Report, 8:14 am on 5 February 2019

The Royal Commission's scathing review into Australian banking is urging sweeping reforms of the sector. The report calls for tougher regulations of bank behaviour, and has referred 24 instances of potentially criminal behaviour to prosecutors. The Australian government says it will accept the recommendations, and the government here says it's studying them to see if any should be implemented in New Zealand. KPMG's head of banking and finance, John Kensington, told Morning Report while banks might be more transparent following the report, there may be some negatives for customers too. Sam Stubbs is the managing director of KiwiSaver provider Simplicity, and has been a member of New Zealand's Government Taskforce on Financial Services. He talks to Guyon Espiner.