The Reserve Bank will continue to engage with stakeholders about its proposed ‘Dashboard’ approach to quarterly disclosure for locally incorporated banks.
The dashboard aims to enhance market discipline by making key information on locally incorporated banks available on the Reserve Bank website in a timely manner and in an accessible format which can facilitate comparisons across banks.
The Reserve Bank ran a consultation on the dashboard concept last year, and has today published a summary of submissions.
Deputy Governor Grant Spencer said all 18 submitters were supportive of the Reserve Bank’s objective to improve the effectiveness of public disclosures by banks, but some raised issues about publication timing, control of the data published, data comparability and the proposed inclusion of short term liquidity metrics.
“After carefully reviewing all feedback, the Reserve Bank considers that the concerns raised about the Dashboard proposal should be able to be addressed, and the Dashboard remains the Bank’s preferred option to enhance market discipline by increasing the effectiveness of the bank disclosure regime.
“The Bank will further engage with submitters and stakeholders in the coming months, to discuss possible refinements to the dashboard concept and the issues raised during consultation.”
Submissions received as part of the dashboard consultation are available on the Reserve Bank’s website. This consultation was subject to the Bank’s new policy to publish submissions by default unless submitters request otherwise.