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RBNZ Issues Kiwibank Press Statement
Date 4 February 2002
NEWS RELEASE
The Reserve Bank today rejected the suggestion, made by ACT leader Richard Prebble, that the registration of Kiwibank involved any special treatment.
Reserve Bank Head of Financial System Oversight Peter Ledingham said: "The decision to register the bank was based on the criteria set out in the Reserve Bank Act, and Kiwibank was treated no differently from any other application. No political pressure has been applied.
"Kiwibank will comfortably meet the minimum capital requirements set by the Reserve Bank when it commences business, and it will be required to continue to meet them on an ongoing basis," Mr Ledingham concluded.
For further information contact Paul Jackman Corporate Affairs Manager Ph 04 471 3671, 021
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