RBNZ had suspicions as early as 2012!
" ......... the bank should have considered using its position as prudential regulator of CBL in 2015 to deter CBL Corporation from ... listing on the NZX before the bank had been fully satisfied on its reserving and solvency concerns."
"The bank was raising important unresolved issues with CBL in 2016 but it was not exerting any particular pressure on the insurer to respond with urgency or comprehensiveness on these issues."
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