The Commonwealth Treasurer Scott Morrison yesterday announced the reappointment of Helen Rowell as deputy chair of the Australian Prudential Regulation Authority, a role she has held since November 2015. Morrison also intends to nominate John Lonsdale, currently the deputy secretary, markets group, at the Treasury as an additional deputy chair of APRA if Parliament agrees to the legislation introduced on 24 May to amend the APRA Act. Lonsdale will bring to APRA a deep knowledge of the financial system and policy expertise acquired in his over 30 years at Treasury, Morrison noted. Goldfields Money Limited is now able to refer to itself as a bank in Australia, after changes to Section 66 of the Banking Act 1959. Until now, Goldfields was designated an authorised deposit-taking institution, with customers benefitting from the Australian Government Deposit Guarantee. Goldfields Money has recently launched its new digital banking platform. "With the roll-out of the new banking platform now complete, we are pleased to be in a position to market ourselves officially as a digital bank to a wider customer base who are used to dealing with banks and their products via the internet or by using an app on their smart phones," said Simon Lyons, CEO and an executive director of Goldfields Money. Westpac NZ's continuing use of non-compliant risk management systems is fine with the RBNZ, as the bank is working to an agreed timetable to replace its unsatisfactory internal models. Reserve Bank deputy governor Geoff Bascand told Banking Day at a media conference following the Financial Stability Report release that Westpac and the regulator had agreed a timetable that allowed them to remain non-compliant until 2019. "We agreed a timetable with them, a timetable that gave both them and us time to get the documentation on the models prepared submitted for us to review them to agree whether those models are satisfactory in terms of requirement, so we always knew that would take a period of time," Bascand said. "They have been submitting models to us and we are working through that. The additional capital is a protection, an insurance, for us through that time to make sure that, if the models were underperforming that we've got a bit of a buffer there." Last Saturday's outage affecting NAB's mobile banking, ATM and eftpos services also caused disruption for customers of the bank's New Zealand subsidiary, BNZ. Reserve Bank governor Adrian Orr said this was "an excellent example of the operational vulnerability of banks". The RBNZ, the country's banking regulator, is currently working with the Australian-owned banks (ANZ, ASB, BNZ, Westpac) as well as Kiwibank on compliance with a revised outsourcing policy. The four Australian-owned banks are also working on their draft "separation plans". Orr said the focus was on the banks'  business continuity plans. In the NAB/BNZ case , was BNZ " aware and ready enough to have independent business continuity plans that could manage for that particular risk?" Orr asked, leaving the obvious answer hanging, given thousands