12 June 2024
Simon Smith
[FYI request #26535 email]
Dear Simon,
Thank you for your email of 24 April 2024 requesting information under the Of icial Information
Act 1982 (OIA), as fol ows:
•
I write regarding your recent press release regarding the Commerce Commissions "Market
Study into personal banking services"
•
Please share any internal correspondence that helped formulate the part of the response
related to capital settings for banks, and how they vary between large (big 4) and smaller
banks
As advised, we extended our timeframe for response to you to 7 June 2024 to enable consultations
necessary to make a decision on the request, as provided for under section 15A(1)(b) of the OIA.
We have decided to grant your request and notified you of this on 7 June.
Some documents are being withheld under section 9(2)(g)(i) of the OIA, to maintain the ef ective
conduct of public af airs through the free and frank expression of opinions by or between or to
Ministers of the Crown or members of an organisation or officers and employees of any public
service agency or organisation in the course of their duty. These documents are early stage drafts
that contain editorial markings, deletions, annotations, comments and queries as to the content
The table below details the documents in scope of your request and any withholding grounds that
may apply.
Doc no.
Date
Description
OIA grounds applied
01
21 March
Memo for Christian Hawkesby – Commerce Commission market study
Nil
on personal banking services: draft report
02
22-25
FW: [INCONFIDENCE] ComCom study – topics from Recommendation 1 Nil
March
Emails between Financial Stability Group (FSG) staf discussing response
to Recommendation 1 of draft Commerce Commission report on
market study into personal banking services
03
26 March Draft RBNZ response to Recommendation 1 of draft Commerce
S(9)(2)(g)(i) – withheld
Commission report on market study into personal
in full – early stage
draft
2
Doc no.
Date
Description
OIA grounds applied
04
26 March
Microsoft Teams exchange between Financial Stability Group (FSG) staf Nil
discussing response to Recommendation 1 of draft Commerce
Commission report on market study into personal banking services
05
3 April
Internal notes on IRB approach developed for pre-meeting with MBIE – Nil
referring back to email from 25 January.
06
5 April
RE: Extra-ordinary combined FSC & FSCAG – Discussion on ComCom
Nil
Market Study response
Email from Director of Financial Stability Assessment to RBNZ staff for
meeting to discuss market study response
06a
5 April
Attachment to email from Director of Financial Stability Assessment to
S(9)(2)(g)(i) – withheld
RBNZ staf for meeting to discuss market study response – includes
in full – early stage
table of Commerce Commission recommendations
draft
06b
5 April
Attachment to email from Director of Financial Stability Assessment to
S(9)(2)(g)(i) – withheld
RBNZ staf for meeting to discuss market study response – includes
in full – early stage
draft narrative of RBNZ submission to the Commerce Commission
draft
07
8 April
RE: Extra-ordinary combined FSC & FSCAG – Discussion on ComCom
Nil
Market Study response
Email exchange between Financial Stability Group (FSG) staff regarding
draft submission
07a
8 April
Attachment to RE: Extra-ordinary combined FSC & FSCAG – Discussion S(9)(2)(g)(i) – withheld
on ComCom Market Study response
in full – early stage
Email exchange between Financial Stability Group (FSG) staff regarding
draft
draft submission
07b
8 April
Attachment to RE: Extra-ordinary combined FSC & FSCAG – Discussion S(9)(2)(g)(i) – withheld
on ComCom Market Study response
in full – early stage
Email exchange between Financial Stability Group (FSG) staff regarding
draft
draft submission
08
8 April
Excerpt from Meeting Minutes of the FSG’s FSCAG Meeting relating to
Nil
the submission
09
11 April
Excerpt from draft submission fol owing the FSG’s FSOC meeting
S(9)(2)(g)(i) – withheld
in full – early stage
draft
10
11 April
Excerpt from FSOC minutes
Nil
3
Doc no.
Date
Description
OIA grounds applied
11
15 April
RE: Extra-ordinary combined FSC & FSCAG – Discussion on ComCom
Nil
Market Study response
Email between FSG staff regarding draft submission
11a
15 April
Attachment to RE: Extra-ordinary combined FSC & FSCAG – Discussion S(9)(2)(g)(i) – withheld
on ComCom Market Study response
in full – early stage
Email between FSG staff regarding draft submission
draft
11b
15 April
Excerpt from attachment to RE: Extra-ordinary combined FSC & FSCAG S(9)(2)(g)(i) – withheld
– Discussion on ComCom Market Study response
in full – early stage
Email between FSG staff regarding draft submission
draft
11c
15 April
Excerpt from attachment to RE: Extra-ordinary combined FSC & FSCAG S(9)(2)(g)(i) – withheld
– Discussion on ComCom Market Study response
in full – early stage
Email between FSG staff regarding draft submission
draft
You have the right to seek an investigation and review of this response by the Ombudsman, in
accordance with section 28(3) of the OIA. The relevant details can be found on the Ombudsman’s
website at
www.ombudsman.parliament.nz.
Please note that we intend to publish a copy of this response on the RBNZ website at
www.rbnz.govt.nz/research-and-publications/of icial-information-requests. Responses to requests
are published in order to improve public transparency and provide an additional resource for anyone
seeking information.
Yours sincerely
Government and Industry Relations
Reserve Bank of New Zealand – Te Pūtea Matua