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Need for wider enquiry into banking

Reserve Bank's questionnaire raises need for wider enquiry into banking

"Reserve Bank Governor, Alan Bollard, in his speech to the Institute of Directors in Christchurch, highlights for us some gaps in care for New Zealand bank customers and staff," said Andrew Casidy, General Secretary of the bank workers' union, Finsec.

"In this country, bank management of staff and their issues needs to improve and so do the resources they are given to manage with.

"These are problems that can only be addressed in a wider enquiry into banking than the Reserve Bank is able to conduct

"The Reserve Bank is properly concerned with the financial assets of banks, their understanding of the aims and risks of their business and the independence, rigour and openness of their auditors and their boards, and they have sent out a questionnaire to New Zealand banks on these issues.

"The Reserve Bank is questioning the platform. But our members are questioning the unsteady structure beneath it.

"Our work/life balance questionnaire to bank staff shows that they are concerned about inadequate staffing levels and not enough training.

"These are the issues that can make a difference both to bank customers and to bank profits, here and now, and with political will they can be solved.

"We want to see a government enquiry than can bring real results for the New Zealand customers and staff of banks," Andrew Casidy concluded.

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