The proposal for quarterly disclosure arose out of the Reserve Bank's Regulatory Stocktake last year aimed at improving the efficiency, clarity and consistency of prudential requirements for banks and non-bank deposit makers. It was thought that current bank disclosures largely contain the right information the public need to see, but could be made more accessible and comparable. Banks already publish quarterly disclosures on their own websites, including the more detailed full-year disclosure statements. A consultation document the Reserve Bank released in September suggests replacing quarterly disclosures with the Dashboard published on the central bank's website. Toby Fiennes, head of the Reserve Bank's prudential supervision department, said the aim of the Dashboard was two-fold, centred on improving market discipline.

Source: New Zealand Herald November 24, 2016 04:50 UTC