• Contact
  • Feedback
Banking Day
  • News
  • Topics
    • All Topics
    • Briefs
    • Major Banks
    • Authorised deposit-taking institutions
    • Insurance, funds and super
    • Payments, mobile & wallets
    • Consumer lending
    • Mortgages
    • Business lending
    • Finance regulation
    • Debt capital markets
    • Ratings agencies
    • Equity capital markets
    • Professional services
    • Work & career
    • Foreign news
    • Other topics
  • Free Trial
  • Subscribe
  • Resources
    • Industry events
  • About us
    • About Banking Day
    • Advertise
    • Feedback
    • Contact Banking Day
  • Search
  • Login
  • My account
    • Account settings
    • User Admin
    • Logout

Login or request a free trial

Briefs: Aussie banks under fire for Kiwi closures, RBA data centre failure

31 August 2018 5:09PM
The leader of the New Zealand First party, Winston Peters, may have gone silent on his criticism of the Big Four Australian banks since he became deputy Prime Minister in the Labour-led coalition government. But being a government minister hasn't shut up his party colleague, the outspoken Regional Economic Development minister Shane Jones. Outraged at the continued closure of Westpac, ANZ and BNZ branches in provincial towns (50 closures over the past two years according to the bank workers' union), Jones said the Australian-owned banks should be obligated to adequately service rural areas. He said he would meet with Reserve Bank governor Adrian Orr (who is responsible for banking regulation) to discuss the issue. "Their profits over the last ten years have grown by 75 per cent," he said. "I do believe with that level of profit they have an obligation to maintain an extensive level of service." A fire system test that caused an internal power supply failure at the Reserve Bank's head office data centre is being blamed for disruptions to payments systems, reports IT News. The outage took out some fixed phone lines and left banks and government agencies making contingency plans in case settlements were delayed. The extent of disruption to payment services from the Thursday afternoon outage is still unclear. Reuters reported an RBA spokesperson as saying all payments services were affected. An early evening update was that all Department of Human Services payments had been made.

I'm a returning subscriber

*
Password reset *
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day

Consumer lending

  • Latitude, Harvey Norman liable for interest free GO card con

Copyright © WorkDay Media 2003-2025.

Banking Day is a WorkDay Media publication

WorkDay Media Unit Trust

  • Privacy policy
  • Terms of access and use