Legal certainty at a cost

Neil Quigley

No 374603, Competition & Regulation Times from New Zealand Institute for the Study of Competition and Regulation

Abstract: Until recently it was possible for a foreign bank to operate in New Zealand through a branch of the parent bank rather than through an entity incorporated in New Zealand. The Reserve Bank has now removed this option for foreign banks operating in New Zealand. If a bank has more than $200 million of retail deposits or $10 billion of wholesale deposits in New Zealand, it must incorporate in New Zealand. Neil Quigley questions this move to mandatory local incorporation.

Date: 2003-04-01
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Persistent link: https://EconPapers.repec.org/RePEc:vuw:vuwcrt:374603

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