Catherine McGrath, chief executive of Westpac was recruited after the Reserve Bank ordered improvements at the bank. Westpac is getting back into the Reserve Bank’s good books after it failed to manage its risks to the regulator’s satisfaction. A report released by the Reserve Bank Te Pūtea Matua, which regulates banks, said Westpac was “moving in the right direction” in building a proactive risk culture around its liquidity. READ MORE:* Westpac's five grave board failures revealed in Reserve Bank report* Westpac announces $1 billion profit* Is Westpac facing a costly ANZ-style lending failure? Westpac had invested in repatriating liquidity risk modelling, and addressed most of the issues that led to the liquidity breaches which displeased the Reserve Bank.

Source: Stuff May 30, 2022 20:56 UTC