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"This increases the minimum capital ANZ must hold for operational risk by around 60 per cent, to $760 million, the Reserve Bank said."
60%, that is massive. If our main banks are prepared to act like this, how can the Reserve Bank say that there is no need for an investigation equivalent to the Royal Commission in Australia? Why, because the RB asked the banks if they were doing anything dodgy but they said no and the RB said OK, no inquiry necessary.
Sorry ordinary people, you are just here to be abused because these rules and regulations are in place to protect you and so by default, you are the ones being abused.
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Calls for Key and others to resign
Pretty slack governance
https://www.stuff.co.nz/business/113...esign-from-anz
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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NZ CEO shown the door
http://nzx-prod-s7fsd7f98s.s3-websit...104/301740.pdf
“characterisation of the expenses” is an interesting term
Last edited by winner69; 17-06-2019 at 10:54 AM.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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 Originally Posted by winner69
The "Smiling Assassin" strikes again. Must be pretty serious with Hisco agreeing to forfeit $6.4 M in shares.
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Originally Posted by iceman
The "Smiling Assassin" strikes again. Must be pretty serious with Hisco agreeing to forfeit $6.4 M in shares.
Indeed, as would imagine that his expenses (ordinarily) wouldn't have been looked at too closely and would have been reasonably hefty anyway, given CEO of a large bank.
Maybe he just built the deck before he had the shares to sell??
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Originally Posted by Sideshow Bob
Indeed, as would imagine that his expenses (ordinarily) wouldn't have been looked at too closely and would have been reasonably hefty anyway, given CEO of a large bank.
Maybe he just built the deck before he had the shares to sell??
I suspect there will be more to it, when I was in my corporate career, want to exit an executive...look at their credit cards...always find something there to provide the final nudge.
Last edited by Raz; 17-06-2019 at 12:47 PM.
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Originally Posted by Sideshow Bob
Indeed, as would imagine that his expenses (ordinarily) wouldn't have been looked at too closely and would have been reasonably hefty anyway, given CEO of a large bank.
Maybe he just built the deck before he had the shares to sell??
The talk is of exaggerated expenditure on corporate cars and wine storage among others !!!
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Member
Originally Posted by Sideshow Bob
Indeed, as would imagine that his expenses (ordinarily) wouldn't have been looked at too closely and would have been reasonably hefty anyway, given CEO of a large bank.
Maybe he just built the deck before he had the shares to sell??
Looks like he did more than build a deck. Bought John Keys Omaha bach, last year. I see JK's old mate Ken Whitney ala the foreign trusts was mentioned in the article also.
https://www.nzherald.co.nz/business/...ectid=12241168
Last edited by okay; 17-06-2019 at 03:29 PM.
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Originally Posted by winner69
Hard to believe its not related to this as well.
"Reserve Bank censures ANZ for 'persistent weakness in process'"
And Sir John ? Does he take any accountability ?
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