A banking expert says he no longer has confidence that the public is getting a true picture of the state of New Zealand banks.
The head of Massey University's Centre for Banking Studies is questioning the system the Reserve Bank uses to inform the public about the soundness of commercial banks.
David Tripe has raised his concerns as changes to disclosure rules for banks come into force.
Banks are required to make their financial position public every three months, however Dr Tripe says international accounting and banking rule changes forced on banks have made the reports meaningless.
The Consumers Institute says that is a worry for those such as academics and media, whose job it is to flag to the public problems at banks.
The Reserve Bank says the changes should allay some of the concerns raised.
However, Dr Tripe says they will not tackle flaws in the information disclosed.