ANZ NZ forced to use standardised op risk model after ‘persistent’ control failures

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By Tyler Davies
17 May 2019

ANZ New Zealand has been informed by its regulator that it can no longer use its own internal models to calculate operational risk, leading to a 60% jump in its capital requirements in this field.

The Reserve Bank of New Zealand (RBNZ) said on Friday that it had restricted ANZ NZ’s ability to use internal models “due to a persistent failure in its controls and attestation process”.

ANZ NZ informed its regulator in April about a mix-up with its parent bank that ...

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