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Legal certainty at a cost

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  • Neil Quigley

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.

Suggested Citation

  • Neil Quigley, 2003. "Legal certainty at a cost," Competition & Regulation Times 374603, New Zealand Institute for the Study of Competition and Regulation.
    • Handle: RePEc:vuw:vuwcrt:374603
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    File URL: https://ojs.victoria.ac.nz/crt/article/view/3746
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