AGP Executive Report
Last update: 10 hours agoRegulatory Pressure: New Zealand’s Reserve Bank has filed High Court civil proceedings against The Co-operative Bank over three AML/CFT failures, with the parties jointly recommending a $1.425m penalty. Banking Policy: Budget 2026 introduces a prudential levy on banks, non-bank deposit takers, insurers and financial market infrastructure providers to fund RBNZ prudential work, targeting about $209m over four years. Rates Watch: RBNZ kept the OCR at 2.25% after a split MPC vote, while South Korea’s Bank of Korea held at 2.50% as inflation and geopolitics pull in different directions. Markets: India’s Sensex and Nifty fell for a second day as investors stayed cautious amid West Asia signals and foreign outflows. Capital Moves: Russia’s VTB plans an additional share issue to raise capital, while Raiffeisen’s takeover bid for Addiko advances as management backs the offer most likely to close. Credit Trends: India’s microfinance portfolio fell 9% year-on-year in April as private banks stayed cautious. Tech & Risk: Banks and telecoms are stress-testing against AI-driven cyber risks after an Anthropic Mythos alert.
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