“We will assess whether the conduct and culture issues being aired during the Australian Royal Commission of Financial Services are present here,” said Reserve Bank Governor Adrian Orr.“A combined FMA/RBNZ team are working through the submissions received from banks in response to our inquiries. This is a significant task, but necessary to create a fact-based, fair, platform,” Mr Orr said.The team working on this are now beginning to notify banks of when and why we will visit them, primarily to assess the validity of their written responses.“It was always our intention to do so, with targeted visits more effective than a simple download of the data and open-ended questioning.“The banks have been very open, both management and boards, and we look forward to this continuing. At this stage, it is too early to draw broad conclusions. There are many areas where further evidence is needed, as well as proof of intent where gaps have been identified and are being closed,” Mr Orr said.Working with the banks in an open, safe, environment is important to ensure the team of reviewers receive frank views and information. The life insurance companies are providing their submissions on the same issues, with the due date today. A similar process will be followed.We are committed to ensuring high standards of conduct and culture in our financial system, and this exercise is a timely check in a fair and managed way.” said Adrian Orr.