A lack of competition in the banking sector is being blamed on poor regulation.  

Financial experts believe a fundamental change to the Reserve Bank and the Council of Financial Regulations is required. 

Andrew Body, one of the experts, told Mike Hosking the regulators have created a “moat” around the large banks in New Zealand. 

He says the capital requirements, the Reserve Bank’s outsourcing requirements and branch policy, as well as the conduct and disclosure regulation and costs of operating all favour the big banks.  

Body told Hosking that RBNZ Governor Adrian Orr has completely “overcooked” the regulation. 

LISTEN ABOVE 

A lack of competition in the banking sector is being blamed on poor regulation. &nbsp;
Financial experts believe a fundamental change to the Reserve Bank and the Council of Financial Regulations is required.&nbsp;
Andrew Body, one of the experts, told Mike Hosking the regulators have created a “moat” around the large banks in New Zealand.&nbsp;
He says the capital requirements, the Reserve Bank’s outsourcing requirements and branch policy, as well as the conduct and disclosure regulation and costs of operating all favour the big banks. &nbsp;
Body told Hosking that RBNZ Governor Adrian Orr has completely “overcooked” the regulation.&nbsp;
LISTEN ABOVE&nbsp;

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Andrew Body: Financial Expert on regulation being to blame for a lack of banking competition

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/0fb39668-34e1-4a4f-99dc-b28a013bb121/transcript